Lincoln Equities Group got $28 million in financing to build a 195,610-square-foot warehouse and distribution facility in Hicksville, Long Island Business News reported. The New Jersey-based developer bought the nine-acre property from Winter Bros. Waste Systems for about $9 million. The facility will have ceilings up to 50 feet high and 30 loading docks. The financing was provided by the Heitman Capital Management. John Alascio, Noble Carpenter III and Sridhar Vankayala of Cushman & Wakefield’s equity, debt and structured finance team arranged for the loan, while Cushman & Wakefield’s David Pennetta and Robert Stricoff represented Winter Bros. in its sale of the property, which is next to the Long Island Rail Road and easily accessible to LaGuardia Airport and John F. Kennedy International Airport. Jones Lang LaSalle’s Tom DiMicelli is the leasing agent for the building. He told LIBN that the asking rent is $17 per square foot for a triple-net lease. [LIBN]
Developer gets $28M to build Hicksville warehouse
New York /
Dec.December 31, 2018
01:34 PM
Related Articles
arrow_forward_ios

Nassau Coliseum leaseholder Nick Mastroianni touts “pent-up demand” for events, but boost may be temporary

These nine drinks will help you toast the new year

Long Island plots to keep its pandemic gains from NYC

J.C. Penney to keep Bay Shore outpost open for now

Long Island’s hotel market could be headed for a downturn

Home sales up nearly 10% as Nassau and Suffolk inventory swells, Airbnb hosts could make $255K during PGA event & more Long Island real estate news
arrow_forward_ios