25-44 Borough Place

25-44 Borough Place, Queens, NY, 11377, US

Description

Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis to arrange the sale of 25-44 Borough Place (the “Property”), a 60,000 square foot industrial facility located in the highly coveted industrial pocket of Woodside, Queens with immediate proximity to LaGuardia Airport. The Property features 36,000 sq. ft. of open ground floor warehouse space with ceiling heights ranging from 15 to 50 feet, 4 interior loading docks, 2 exterior loading docks, all with trailer access. The building is further supported by 12,000 sq. ft. of second floor office space and 12,000 sq. ft. of underground parking. Additionally, 25-44 benefits from an easement with Amtrak for 9,162 sq. ft. along 50th Street. The Property is 100% leased to Super-Tek Products, a subsidiary of Sika Group, which carries investment grade credit (A-) with approximately 6.7 years remaining on its lease through November 2032. The ground floor is currently subleased to Sylvan Cabinetry through November 2032 as well.

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Attributes

Rentable SF

60,000

NNN Lease Structure

Investment Grade “A-" Credit

Clear Height

15'-50'

Interior Docks

Exterior Docks

Drive-In

Media

Investment highlights

100% LEASED INDUSTRIAL FACILITY PROXIMATE TO LGA AIRPORT

100% leased to Super-Tek Products, a subsidiary of investment grade-rated Sika Group, with a partial sublease to Sylvan Cabinetry, providing stable, in-place cash flow through November 2032
Unparalleled, mission-critical New York City location with immediate proximity to LaGuardia Airport

EXCEPTIONAL INFILL DEMOGRAPHICS

Located in Queens within New York City, one of the most coveted infill markets in the country and most affluent (#1 MSA in current dollar GDP) areas in the country with access to 20.3 million people

MARKET-LEADING URBAN ASSET FUNCTIONALITY

Highly functional industrial building featuring 4 interior loading docks, 2 exterior loading docks, 1 drive-in door, and ceiling heights ranging from 15 to 50 feet
Further supported by 12,000 sq. ft. of second floor office space and 12,000 sq. ft. of underground parking

EXCEPTIONAL LOCAL & REGIONAL CONNECTIVITY

Ideally situated within five minutes from major highway I-678 and LaGuardia Airport, providing strong local and regional connectivity to New York and the broader Tri-State Region