A 526,000-square-foot industrial building located at 199 Lowell Ave. in Central Islip, N.Y. has been sold, according to Boston-based CB Richard Ellis.

The firm represented tenant Ocean Logistics LLC, a subsidiary of C&S Wholesale Grocers Inc., in the termination of the lease with 10 Boulevard LLC of San Francisco. The building was purchased by Sysco Corp., a North America marketer and distributor of foodservice products.

The opportunity to terminate the long-term obligation was a result of the owner’s willingness to sell the asset to Sysco Corp. to satisfy their regional food service distribution needs.

Ocean Logistics was represented by Bob Gibson and Ed Jarosz of CBRE/New England and Phil Heilpern, Martin Lomazow and David Zelinski of CBRE Long Island.  Sysco Corp. was represented in the purchase by Cushman and Wakefield, and 10 Boulevard LLC was represented by The Silver Group.

 

CBRE: Industrial Sale and Lease Termination in Central Islip, N.Y.

by Banker & Tradesman time to read: 1 min
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