{"id":1004502208,"date":"2021-01-05T04:02:37","date_gmt":"2021-01-05T12:02:37","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004502208"},"modified":"2021-01-05T04:02:37","modified_gmt":"2021-01-05T12:02:37","slug":"lincoln-equities-pockets-75m-for-long-island-industrial-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lincoln-equities-pockets-75m-for-long-island-industrial-asset\/","title":{"rendered":"Lincoln Equities Pockets $75M for Long Island Industrial Asset"},"content":{"rendered":"
\"Lincoln<\/a>

Lincoln Logistics @ Hicksville. Image courtesy of JLL Capital Markets<\/em><\/p><\/div>\n

An industrial property that\u2019s fully occupied by The Home Depot in Hicksville, N.Y., has changed hands for $74.5 million. Lincoln Equities Group sold the asset, Lincoln Logistics @ Hicksville, to an undisclosed institutional investor.<\/p>\n

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READ ALSO<\/strong>: Americold Realty Trust Closes $1.7B Acquisition<\/a><\/p>\n

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Lincoln Equities completed the 195,610-square-foot distribution warehouse in 2020. The developer looked to create a state-of-the-art industrial development and built the property with 36-foot clear heights, 50- by 54-foot column spacing, 29 dock-high doors, two drive-in doors and 4,185 square feet of office space.<\/p>\n

The space attracted the attention of The Home Depot, which signed a long-term lease at Lincoln Logistics, according to JLL. The home improvement retailer is using the space for its market distribution operation in Long Island. Located at 344 Duffy Ave., Lincoln Logistics @ Hicksville is also less than 22 miles away from both John F. Kennedy International and LaGuardia airports. On the other side of the New York City metro area, Lincoln Equities is also working on a 1.6 million-square-foot industrial project in Bayonne, N.J.<\/a><\/p>\n

JLL marketed Lincoln Logistics @ Hicksville on behalf of Lincoln Equities. The JLL Capital Markets team of Jose Cruz, Marc Duval, Jordan Avanzato, Tyler Peck, Rob Kossar, Leslie Lanne, Tom DiMicelli represented the seller in the transaction.<\/p>\n

Investor interest in Long Island <\/h2>\n

Several months following the COVID-19 pandemic\u2019s hit to the Long Island economy, the industrial market is beginning to show signs of recovery. According to JLL\u2019s 2019 third quarter report, leasing activity for Long Island\u2019s industrial market surpassed 600,000 square feet, which is close to the numbers registered prior to the onset of the pandemic. Average asking rents also increased by 6.1 percent in the third quarter, as more investors and developers became involved in the Long Island market.<\/p>\n

According to JLL, the market indicators for Long Island\u2019s industrial sector is already showing signs of economic recovery, especially with lockdown restrictions being loosened. The report noted that Long Island will continue to become more attractive to investors as its industrial market matures.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Home Depot fully occupies the distribution warehouse in Hicksville, N.Y.<\/p>\n","protected":false},"author":883,"featured_media":1004502232,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21748,21783,1600,21742,10],"tags":[37000,32796,44006,36634],"class_list":["post-1004502208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-industrial","category-investment","category-new-york","category-latest","category-northeast","tag-home-depot","tag-jll","tag-jll-capital-markets","tag-lincoln-equities-group"],"acf":[],"yoast_head":"\nLincoln Equities Pockets $75M for Long Island Industrial Asset - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/lincoln-equities-pockets-75m-for-long-island-industrial-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lincoln Equities Pockets $75M for Long Island Industrial Asset\" \/>\n<meta property=\"og:description\" content=\"The Home Depot fully occupies the distribution warehouse in Hicksville, N.Y.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/lincoln-equities-pockets-75m-for-long-island-industrial-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-05T12:02:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/01\/Lincoln-Logistics-Hicksville.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jackson Chen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lincoln-equities-pockets-75m-for-long-island-industrial-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/lincoln-equities-pockets-75m-for-long-island-industrial-asset\/\",\"name\":\"Lincoln Equities Pockets $75M for Long Island Industrial Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lincoln-equities-pockets-75m-for-long-island-industrial-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lincoln-equities-pockets-75m-for-long-island-industrial-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/01\/Lincoln-Logistics-Hicksville.jpg\",\"datePublished\":\"2021-01-05T12:02:37+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/8d4607aca26f3427c49fe54ddc82ddf1\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lincoln-equities-pockets-75m-for-long-island-industrial-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/lincoln-equities-pockets-75m-for-long-island-industrial-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lincoln-equities-pockets-75m-for-long-island-industrial-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/01\/Lincoln-Logistics-Hicksville.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/01\/Lincoln-Logistics-Hicksville.jpg\",\"width\":800,\"height\":620,\"caption\":\"Lincoln Logistics @ Hicksville. 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