{"id":1004193151,"date":"2017-10-09T05:55:40","date_gmt":"2017-10-09T13:55:40","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004193151"},"modified":"2021-05-15T02:21:50","modified_gmt":"2021-05-15T10:21:50","slug":"asb-jv-nabs-brooklyn-warehouse-complex","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/asb-jv-nabs-brooklyn-warehouse-complex\/","title":{"rendered":"ASB JV Nabs Brooklyn Warehouse Complex"},"content":{"rendered":"<p>By Corina Stef<\/p>\n<div id=\"attachment_1004193156\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Capture.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004193156\" data-attachment-id=\"1004193156\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/asb-jv-nabs-brooklyn-warehouse-complex\/capture-127\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Capture.png\" data-orig-size=\"1237,928\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"5112 2nd Ave., New York City\" data-image-description=\"&lt;p&gt;5112 2nd Ave., New York City&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;5112 2nd Ave., New York City&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Capture.png?w=1024\" loading=\"lazy\" class=\"wp-image-1004193156 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Capture.png\" alt=\"5112 2nd Ave., New York City\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Capture.png 1237w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Capture.png?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Capture.png?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Capture.png?resize=1024,768 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004193156\" class=\"wp-caption-text\">5112 2nd Ave., New York City<\/p><\/div>\n<p>ASB Real Estate Investments has teamed up with 60 Guilders\u00a0to acquire a two-building warehouse complex in Brooklyn. The joint venture paid Salmar Properties $47 million for the 209,000-square-foot property. ASB purchased it through Allegiance Fund, its $7 billion core vehicle. According to public records, the sale was funded by a $23.7 million loan financed by Capital One.<\/p>\n<p>Located at 5112 2nd Ave.,\u00a0the asset includes\u00a0a three-story main building, single-story annex and 21,000 square feet of surface parking. Additionally, it is located in the borough\u2019s <a href=\"https:\/\/www.commercialsearch.com\/news\/nyc-plans-136m-brooklyn-creative-hub\/\">emerging Sunset Park neighborhood<\/a> and is bounded by retailers, art galleries and the Brooklyn Army Terminal. Multiple nearby subway stations and Interstate 278 provide easy access to and from the city\u2019s other boroughs.\u00a0Its anchor tenant is the New York City Board of Elections.<\/p>\n<p>Cole Schotz P.C.&#8217;s\u00a0Leo Leyva, Jordan Metzger,\u00a0Matthew Schneid and Jonathan Goodelman represented 60 Guilders in the transaction.\u00a0<\/p>\n<p>\u201c<em>The acquisition represents an excellent, cash-flowing infill investment, which will benefit from decreasing supply and increasing demand for well-located, accessible industrial buildings within New York City. For a long-term hold, the area may offer future opportunity for conversion to office or multifamily uses,<\/em>\u201d ASB Senior Vice President &amp; Head of the Northeast Region Brodie Ruland said in a prepared statement.<\/p>\n<p><em>Image via Google Maps<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The two-building industrial asset is located in Brooklyn&#8217;s Sunset Park neighborhood and includes 21,000 square feet of surface parking.<\/p>\n","protected":false},"author":241,"featured_media":1004193156,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21748,21783,1600,21742,10],"tags":[37893,33643,33139,37894],"class_list":["post-1004193151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-industrial","category-investment","category-new-york","category-latest","category-northeast","tag-60-guilders","tag-asb-real-estate-investments","tag-capital-one","tag-salmar-properties"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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