{"id":1004190824,"date":"2017-09-19T08:41:43","date_gmt":"2017-09-19T16:41:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004190824"},"modified":"2022-12-08T15:05:17","modified_gmt":"2022-12-08T23:05:17","slug":"gtj-reit-snags-fedex-leased-ny-facility","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/gtj-reit-snags-fedex-leased-ny-facility\/","title":{"rendered":"GTJ REIT Snags FedEx-Leased NY Facility"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004190830\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/GTJ-New-Property-Acq-FEDEX.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004190830\" data-attachment-id=\"1004190830\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/gtj-reit-snags-fedex-leased-ny-facility\/gtj-new-property-acq-fedex\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/GTJ-New-Property-Acq-FEDEX.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;16&quot;,&quot;credit&quot;:&quot;Samuel Morse&quot;,&quot;camera&quot;:&quot;NIKON D700&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1484483882&quot;,&quot;copyright&quot;:&quot;Copyright 2013 Samuel Morse&quot;,&quot;focal_length&quot;:&quot;45&quot;,&quot;iso&quot;:&quot;200&quot;,&quot;shutter_speed&quot;:&quot;0.003125&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"201 Neelytown Road, Montgomery, N.Y.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt; 201 Neelytown Road, Montgomery, N.Y. &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/GTJ-New-Property-Acq-FEDEX.jpg?w=800\" class=\"wp-image-1004190830 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/GTJ-New-Property-Acq-FEDEX.jpg\" alt=\" 201 Neelytown Road, Montgomery, N.Y. \" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/GTJ-New-Property-Acq-FEDEX.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/GTJ-New-Property-Acq-FEDEX.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/09\/GTJ-New-Property-Acq-FEDEX.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004190830\" class=\"wp-caption-text\">201 Neelytown Road, Montgomery, N.Y.<\/p><\/div>\n<p>GTJ REIT acquired the FedEx Distribution Center in Montgomery, N.Y. The 43-acre facility is leased and occupied by FedEx Ground for a 10-year term.\u00a0<\/p>\n<p>The 248,370-square-foot property at 201 Neelytown Road is located in a major logistics hub, neighboring Home Depot, FedEx Freight, Cardinal Health, Carlisle, UPS, Staples, McKesson, United Natural Foods and Con-way Freight distribution facilities.\u00a0<\/p>\n<p><em>&#8220;This is a very attractive investment for us given the high barriers to entry and the relatively low vacancy rate of the area; the building\u2019s proximity to Stewart Airport and Interstates 84 and 87; and the general lack of prime Class A industrial property in this region,\u201d<\/em> said Louis Sheinker, president &amp; COO of GTJ, in prepared remarks.\u00a0In its growing portfolio, GTJ now owns 49 properties totaling 6 million square feet of space.\u00a0<\/p>\n<p>Several FedEx <a href=\"https:\/\/www.commercialsearch.com\/news\/downtown-miami-industrial-asset-sells-for-37m\/\">distribution centers<\/a>\u00a0have been up for grabs this year, including\u00a0Lalezarian Properties acquisition of 200 S. Miami Ave. in Miami, a 109,637-square-foot facility purchased for $37.3 million.\u00a0<\/p>\n<p><em>Image courtesy of GTJ<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 43-acre, 248,370-square-foot property, located in a major logistics hub, is leased and occupied by FedEx Ground for a 10-year term.<\/p>\n","protected":false},"author":746,"featured_media":1004190830,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,1600,21742,10],"tags":[33339],"class_list":["post-1004190824","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-new-york","category-latest","category-northeast","tag-fedex"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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