Sasson Real Estate Group and Garelick Holdco have completed the $53.5 million sale of a fully leased, three-building, value-add light industrial portfolio totaling 260,755 square feet along with an adjacent 23-acre development parcel in the Rockland County community of Valley Cottage, N.Y.
Lincoln Equities and PCCP purchased the assets.
The portfolio is situated at 616 and 618 Corporate Way and 711 Executive Blvd. in Valley Cottage, which is approximately 30 miles north of Midtown Manhattan. The properties and land site are situated off Route 303 and proximate to U.S. Route 9W, Interstate 287 and the Mario M. Cuomo Bridge, which serves as one of the most important corridors for commerce in the Northeast. In addition, the assets are in the Northern New Jersey Industrial market, one of the fastest-growing regions in the country, and within the supply-constrained Rockland County Industrial submarket.
The properties are fully leased to 24 tenants and feature a flexi
