Spiegel Associates Pays $54M for Long Island Industrial Portfolio
Marcus & Millichap arranged the deal.
Investment and development firm Spiegel Associates has purchased a five-property, 275,938-square-foot industrial portfolio in Long Island, N.Y. Howard Katz Realty & Construction sold the assets for a total of $54.2 million. Marcus & Millichap arranged the deal on behalf of the seller and procured the buyer.
The facilities are in Farmingdale, N.Y., Hicksville, N.Y., and Oceanside, N.Y. Completed between 1975 and 1985, the warehouses range from 28,000 to 100,000 square feet and feature office spaces.
The largest property in the portfolio is the 100,473-square-foot facility at 855 Conklin St., in Farmingdale. The distribution center features eight dock-high and 14 grade-level loading doors. The Oceanside facility is at 102 Mott St. and measures 40,965 square feet.
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Marcus & Milichap Brokers Michael Tuccillo and Anthony Cerrone represented the seller in the transaction and procured the buyer. Spiegel Associates Vice President David Wilks and Analyst Andrew Wilks closed the deal on behalf of their company.
Retail sector drives logistic changes
In the first two months of 2026, the U.S. industrial sector recorded $8.9 billion in investment sales, with assets trading at an average price of $144 per square foot, according to a recent Yardi Matrix report. Between 2019 and 2025, the national average sale price of an industrial property surged 70 percent, from $79 to $135 per square foot.
One of the fundamental drivers for the next phase of industrial demand is retail strategy, due to retailers investing in robotics and using artificial intelligence to optimize delivery strategies across last-mile facilities. This push towards efficiency has its roots in consumer expectations, which began centering on speed during the pandemic and have since only grown.
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