January 15, 2020
CenterPoint Properties acquired the leasehold interest in a 925,411-square-foot, three-building industrial portfolio in Brooklyn’s Flatlands neighborhood. Published reports say the Flatlands Portfolio’s seller was Rentar Development, and that CenterPoint paid $134 million.
“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, SVP of asset management at CenterPoint.
He added that with e-commerce driving demand for industrial space locally, “CenterPoint plans to be extremely active in the boroughs moving forward.”
The seller was represented by DY Realty’s Mat Diana, Paul Yuras and Peter Derbar. The DY Realty team will represent CenterPoint in future lease-up of the Flatlands Portfolio. Currently, it’s 100% leased to 13 tenants.
The portfolio’s street addresses are 101-01 Ave. D, 103-00 Foster Ave. and 101-10 Foster Ave. Clear heights range from 22’ to 32.’
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