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C&W Arranges One of Long Island's Largest Industrial Purchases
7 May, 2009, Central Islip, NY
Cushman & Wakefield today announced that it arranged, on behalf of Sysco, the purchase of 199 Lowell Avenue, a 526,000 square foot industrial property situated on a 45.89 acre land parcel in Central Islip, NY.
The deal is one of the largest industrial property sales transactions in Long Island commercial real estate.
Sysco purchased the property from a private investor for an undisclosed price. The company’s intended use for the facility has not yet been announced.
Cushman & Wakefield’s Frank Frizalone, executive director, National Industrial Services, represented Sysco in the property purchase.
“Rarely does an opportunity of this magnitude become available in Long Island, particularly in Western Suffolk County," said Mr. Frizalone, who is based in Cushman & Wakefield’s Melville, NY office. “Sysco took advantage of what was an excellent opportunity to acquire a large property and land parcel.”
Located in Western Suffolk County, 199 Lowell Avenue features 526,000 square feet of industrial distribution space set on 45.89 acres. The property located is in close proximity to area highways and the Long Island Railroad.
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Cushman & Wakefield is the world's largest privately held commercial real estate services firm. Founded in 1917, it has 221 offices in 58 countries and more than 15,000 employees. The firm represents a diverse customer base ranging from small businesses to Fortune 500 companies. It offers a complete range of services within four primary disciplines: Transaction Services, including tenant and landlord representation in office, industrial and retail real estate; Capital Markets, including property sales, investment management, valuation services, investment banking, debt and equity financing; Client Solutions, including integrated real estate strategies for large corporations and property owners, and Consulting Services, including business and real estate consulting. A recognized leader in global real estate research, the firm publishes a broad array of proprietary reports available on its online Knowledge Center at www.cushmanwakefield.com.
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