Developer gets $28M to build Hicksville warehouse

New York /
Dec.December 31, 2018 01:34 PM

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]


Related Articles

arrow_forward_ios
Photo Illustration of Urban Edge CEO Jeff Olson and Sunrise Mall in Massapequa, NY. (Getty, Urban Edge)

Unibail-Rodamco-Westfield sells Long Island mall for $29.7M

Unibail-Rodamco-Westfield sells Long Island mall for $29.7M
Nassau Coliseum and Nick Mastroianni (Getty)

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

Nassau Coliseum leaseholder Nick Mastroianni touts “pent-up demand” for events, but boost may be temporary
TRD’s favorites wines, spirits and non-alcoholic beverages. (Getty, Amazon,

These nine drinks will help you toast the new year

These nine drinks will help you toast the new year
Mahnaz Zahedi pictured with her parents in 1962 (inset) and  444 E Alexander Palm Road (Getty, Zillow)

Hotelier buys waterfront Boca Raton home for $6M

Hotelier buys waterfront Boca Raton home for $6M
Long Island is aiming to keep the business it grabbed from the city during the pandemic, and it now knows how. (iStock)

Long Island plots to keep its pandemic gains from NYC

Long Island plots to keep its pandemic gains from NYC
J.C. Penney at the Westfield South Shore mall in Long Island and  J.C. Penney CEO Jill Soltau (Google Maps; Getty)

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

J.C. Penney to keep Bay Shore outpost open for now
The Uniondale Marriott and Ten-X's Matthew Schreck (Credit: LinkedIn)

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

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

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

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

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...