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By: David Winzelberg July 21, 2022 Comments Off on Rockefeller Group begins major industrial project in Bay Shore
The Rockefeller Group has begun construction on a new distribution center in Bay Shore.
The Manhattan-based developer is bringing a new 172,622-square-foot building to a 10.75-acre site at 55 Paradise Lane. Rockefeller Group purchased the vacant property for $32 million in 2020.
Last year, the company also purchased two adjacent warehouses totaling 437,998 square feet at 145 and 158 Candlewood Road for $94.5 million from an affiliate of Rubie’s Costume Company.
The new speculative distribution center on Paradise Lane will feature 36-foot-clear ceiling heights, 47.5-foot by 54-foot column spacing, 40 dock doors, parking for 270 vehicles and an additional 40 spaces for trailers. The plans also call for an additional 7,317 square feet of office mezzanine space.
Completion of the project is expected in the first quarter of next year.
“Rockefeller Group has long recognized Long Island as an important market for industrial development,” Mark Shearer, senior managing director for Rockefeller Group, said in a company statement. “We believe this project, which will deliver new Class-A industrial along with two existing buildings on the site, will provide Long Island with quality distribution space as the market continues to evolve and last-mile locations grow in demand.”
At 158 Candlewood Road, Rockefeller Group has leased 82,064 square feet to Duro Dyne Corporation, a manufacturer of sheet metal accessories and equipment for the HVAC industry. Lindenmeyr Munroe, a packaging and paper provider, leased the remaining 115,184 square feet, bringing the building to full occupancy.
The 240,750-square-foot warehouse at 145 Candlewood Road was leased back to Rubie’s Costume Company.
“Rockefeller Group is pleased to welcome Duro Dyne and Lindenmeyr Munroe to our first project on Long Island,” Meg Brod, senior managing director for Rockefeller Group, said in the statement. “The addition of these two respected companies will help establish Rockefeller Group Logistics Park in Bay Shore as one of the premier distribution facilities on the South Shore as we develop 55 Paradise Lane for companies in the market today.”
The general contractor for 55 Paradise Lane is Ronkonkoma-based Aurora Contractors and the architect is Manhattan-based KSS Architects.
“We are truly excited to represent the Rockefeller Group as the construction manager for this exciting project,” said Michael Adler, director of business development for Aurora Contractors. “Our in-depth knowledge of the industrial sector, coupled with our ability to navigate ongoing material availability issues, will ensure a highly successful outcome for this project.”
Leslie Lanne, Doug Omstrom and Max Omstrom of JLL are the leasing agents for the Bay Shore industrial park. Paul Leone and Phil Heilpern of CBRE represented Duro Dyne and Sean Duffy and Nicholas Gallipoli of Cushman & Wakefield represented Lindenmeyr Munroe on the leasing of 158 Candlewood Road.
Tagged with: industrial real estate
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