January 5, 2021
JLL Capital Markets closed the $74.5-million sale of Lincoln Logistics @ Hicksville, a brand new, 195,610-square-foot distribution warehouse in the Long Island community of Hicksville, NY. The sale set a price-per-square-foot record for the market, according to JLL.
A JLL team of Jose Cruz, Jordan Avanzato, Tyler Peck, Rob Kossar, Leslie Lanne and Tom DiMicelli marketed the property on behalf of the seller, Lincoln Equities Group. An institutional investor purchased the asset.
Completed in December of 2020, Lincoln Logistics @ Hicksville is fully occupied by The Home Depot and serves as the tenant’s market distribution operation on Long Island.
“There was a very strong response to the offering from the institutional buyers given the credit, term, location and quality of the real estate,” said Cruz. “Surety of cash flow today is top of the investor list of requirements, and the pricing is reflective of that.”
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