DH Property Holdings, a developer of urban infill industrial logistics facilities, and Goldman Sachs Asset Management’s real estate business have sold their stake in a three-story, 400,000-square-foot logistics facility in Red Hook, Brooklyn. The buyer was CBRE Investment Management. Financial terms of the sale were not disclosed.
Located at 640 Columbia St. the facility sits on four acres and is the first multi-story logistics facility on the East Coast. 640 Columbia boasts best-in-class architecture and features ramp access to the loading docks on the second floor, as well as internal ramps connecting the three floors and a dedicated private elevator servicing the third floor.
DHPH developed the property and executed a long-term lease on the facility with a global credit tenant.
“640 Columbia is an extraordinary facility that offers unparalleled access to Manhattan, Brooklyn, Queens and the greater metropolitan region,” said Dov Hertz, founder of DHPH.
