Baylis 495 Business Park at 125 Baylis Road in Melville, New York — Courtesy: JLL
By Joshua Burd
A developer has sold a nearly 104,000-square-foot industrial building in New York’s Suffolk County, in a deal arranged by JLL’s Morristown-based capital markets team.
According to the brokerage team, which represented Creation Equity in the sale, the property at 125 Baylis Road in Melville traded to an undisclosed buyer. The deal comes with a full-building lease in place, JLL said, noting that Keurig Dr. Pepper will use the site as its long-term, flagship location on Long Island to service its growing, high-volume last-mile distribution network.
JLL managing directors Marc Duval and Jordan Avanzato, directors Jason Lundy and Nicholas Stefans and senior managing directors Jose Cruz and Steve Simonelli spearheaded the assignment. They noted that Baylis 495 Business Park, which totals 103,500 square feet, sits on 8.18 acres roughly one mile south of the Long Island Expressway.
“Core capital has come back fast as the New York metro has seen a deep source of unlevered buyers targeting newer vintage industrial assets,” Duval said.
JLL added that key building features include 32-foot clear ceiling heights, 20 dock doors, two drive-in doors and excess parking.
“In this specific transaction, the credit, quality and location checked all the boxes,” Avanzato said.
