Ridgefield Park-based KABR Group and FCA-Orbita Group of Summit have completed the acquisition of a 3. 5-acre commercial in Jamaica, Queens, the partners announced March 1.
Located at 184-10 and 184-60 Jamaica Ave. , it is comprised of two interconnected five- and six-story commercial buildings with a cumulative leasable domain of 620,000 square feet.
With an approximate occupancy of 60%, the construction grants several entrance doors, loading docks, secure access 24 hours a day, 7 days a week and more than 120 parking lots.
According to KABR and FCA-Orbita, a loading procedure, bunker capacity, vertical shipping capacity and parking are being carried out.
“This is an exclusive commercial and distribution asset in one location. We are fortunate to incorporate these assets into our portfolio. The ground floor with loose ceiling heights of 16 feet and direct loading is a great asset and the other innovations will allow us to contract the entire area quickly,” said Adam Altman, managing member of KABR, in a statement.
James Nelson, Fritz Richter, Reid Berch and Eric Edeen of Avison Young represented the merchant in the transaction.
The lease of the assets will be controlled by Joe Lagano and Reid Birch of Avison Young, and Frank Liggio and Joseph Hentze of Cushman Wakefield.