Turnbridge closed the acquisition in December 2018 of this 10.2-acre land site strategically located for future industrial warehouse development in the South Bronx, New York. The property is well-located within minutes of I-95, I-278, I-895 and the Robert F. Kennedy Bridge to Manhattan and Queens. The property abuts the CSX freight railway, providing tenants with potential direct rail access, and is located less than two miles from the Hunts Point Food Distribution Center, which generates over $3 billion of annual economic activity. The property, which is fully entitled for nearly 900,000 square feet of state-of-the-art industrial warehouse use, was fully leased at closing, providing Turnbridge with cash flow prior to commencing any development. The property is also located in an Opportunity Zone, a new program that provides federal tax incentives for investments in new businesses and commercial projects in low-income communities that was part of the Tax Cuts and Jobs Act of 2017.

Bronx, NY: 980 E 149th Street

Address

980 East 149th Street, Bronx, NY

Submarket

Hunts Point, South Bronx

Size

10.2 Acres

Type

Last Mile Industrial

Date Acquired

December 2018