Seagis Property Group Acquires 10,000 SF Warehouse Building in Long Island City, NY

LONG ISLAND CITY, N.Y., Aug. 28, 2024 /PRNewswire/ -- Seagis Property Group ("Seagis") announced today that it closed on a warehouse facility located at 48-55 36^th Street in Long Island City, NY. The building totals 10,033 square feet and is situated on a 15,000 SF parcel in the Long Island City submarket of Queens, NY. The property has immediate access to Manhattan with its location ½ mile from the convergence of the Long Island Expressway and the Brooklyn-Queens Expressway. Seagis purchased the property from a private owner. Tomas Shleiwet from Greiner-Maltz represented both Seagis and the seller in the transaction.

"We are excited to add this Long Island City warehouse into our growing New York City Boroughs portfolio," said Brian Tozer, Vice President. "This location provides excellent accessibility into Manhattan while the property's building to land ratio is ideal for the type of tenant demand that we see in the Boroughs. It offers a 10,033 SF single tenant building with 5,000 SF of secured off-street parking, which is a highly desired amenity, particularly in this location within Long Island City. This acquisition perfectly aligns with our investment strategy, to secure well-located, functional warehouses in targeted neighborhoods that are well suited for service and distribution throughout NYC. We continue to seek investment opportunities to further increase our portfolio concentration throughout the Boroughs."

This is the Company's first investment in the Long Island City submarket and expands the Company's existing New York City Boroughs portfolio to 1.3 million square feet across 61 properties.

For more information about this property, please contact Brian Tozer at [email protected]

About Seagis Property Group 
Seagis Property Group is a privately held real estate owner focused on the acquisition and development of industrial properties in global logistics hubs along the Eastern Seaboard. The company's portfolio spans 12 million square feet of space and includes 190 buildings in New Jersey, New York City, and South Florida. Seagis acquires core, value-add and development real estate for warehouse/logistics use. The company was founded in 2005 and is headquartered in Conshohocken, Pennsylvania. For more information, visit www.seagisproperty.com

SOURCE Seagis Property Group LP