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The Rockefeller Group is nearing completion of its new 172,622-square-foot distribution center in Bay Shore.
Scheduled for opening in the spring, the new building at 55 Paradise Lane includes 36-foot-clear ceiling heights, 47.6-foot by 54-foot column spacing, 40 dock doors for trailers and two overhead doors and the property has parking for 270 vehicles. Rockefeller Group also has local approvals to build 7,317 square feet of office mezzanine space and 21,280 square feet of storage mezzanine space at 55 Paradise Lane if demand calls for the additional space.
Rockefeller Group purchased the 55 Paradise Lane development site for $32 million in 2020 and bought two adjacent warehouses totaling 437,998 square feet at 145 and 158 Candlewood Road for $94.5 million from an affiliate of Rubie’s Costume Company last year.
Leslie Lanne, Doug Omstrom and Max Omstrom of JLL are marketing space at the Rockefeller Group Logistics Park, which also includes fully leased warehousing and distribution centers at 145 and 158 Candlewood Road.
“We are excited to be nearing completion on 55 Paradise Lane and bringing more than 170,000 square feet of new industrial space to Long Island, where vacancies are at record low numbers,” Meg Brod, senior managing director of Rockefeller Group, said in a company statement. “55 Paradise is part of our active pipeline of industrial projects across the country and Long Island is an important market for us. Working closely with JLL, we are seeing interest from a number of users, including Fortune 500 companies, third-party logistics firms and local businesses looking to expand.”
Demand for industrial product on Long Island continued to see sustained growth in the third quarter, which has helped drive leasing velocity to 2.5 million square feet year-to-date, more than all of 2021, according to JLL’s 3Q 2022 Northeast Industrial Report.
“The new Bay Shore industrial park perfectly meets a long list of criteria for a successful distribution hub, including its close proximity to major population centers and a strong workforce, a location with a low impact on residential neighborhoods, easy access to an array of transportation options and spacious modern facilities,” Lanne said in the statement. “The soon-to-be-completed distribution center at 55 Paradise Lane will allow for the quick, convenient, safe fulfillment of orders, meeting the growing demand for ever-faster local deliveries.”
Aurora Contractors of Ronkonkoma is serving as the 55 Paradise Lane project’s general contractor, while KSS Architects of Manhattan is the architect and R&M of Huntington is the civil engineer.
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Image and article originally from libn.com. Read the original article here.