Publications

CenterPoint buys Brooklyn portfolio
Transactions - JANUARY 14, 2020

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

CenterPoint buys Brooklyn portfolio

by Released

CenterPoint Properties has acquired the leasehold interest in a 925,411-square-foot, three-building portfolio on 29.69 acres, located in Brooklyn, N.Y., also known as the Flatlands Portfolio.

“The Flatlands Portfolio is a strategic entry point for CenterPoint into the NYC boroughs — a market that has one of the highest barriers to entry in the country for investors and developers,” said Evan Lippow, CenterPoint vice president of investments. “Along the East Coast, CenterPoint has now acquired in excess of $300 million of infill assets over the past six months and is looking forward to continuing this high acquisition volume in 2020.”

The portfolio is 100 percent leased to 13 different tenants.

“The Flatlands Portfolio represents a unique opportunity for CenterPoint to acquire scale within the NYC boroughs and immediately become one of the largest industrial landlords in the market,” said David Nenner, CenterPoint senior vice president of asset mana

Forgot your username or password?