묘사

Jones Lang LaSalle (“JLL”) has been exclusively retained to market for sale 70 Schmitt Boulevard (the “Property”), a 76,380-square-foot industrial facility on a 4.55-acre site with 2.8 acres of parking located in the Farmingdale submarket of Suffolk County, New York. The Property is 100% leased to Heritage Mechanical and guaranteed by EMCOR Group Inc. (S&P: BBB-) with 7.0 years remaining on the lease term. The Property presents a rare opportunity for investors to acquire a mission-critical asset in Farmingdale, New York, secured by a long-term lease with investment-grade credit and offering back-end value-add upside through a 14% mark-to-market opportunity in a high-barrier-to-entry industrial market.

The Property is located less than five minutes from I-495, providing connectivity to Long Island’s affluent population base, three major airports, and the densely populated New York metropolitan area, which houses over 20 million people. 70 Schmitt Boulevard is ideally situated in the Farmingdale submarket in Western Suffolk County, which boasts a 95% occupancy rate and has attracted notable occupiers including Amazon, Keurig Dr Pepper, UPS, and USPS. The Property features exceptional functionality with one loading door per 7,638 square feet and 2.8-acres of parking, making it an exceptional fit for the Long Island industrial market.

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