Hempstead
NIT Industrial acquired 12614 Hempstead Road in October 2019 as a value-add opportunity investment. The building, a 2nd generation distribution facility, was purchased significantly below replacement cost from STAG Industrial REIT. The property was repositioned through CAPEX renovations with the intention to lease it to a 3rd party tenant and ultimately sell based on a stabilized CAP rate. The property was ultimately sold in September 2020 to an owner/operator at a rate that provided equitable returns to those that would have been achieved through sale after stabilization.
The numbers that matter
A clear view of the asset's scale, performance, and market position.
Total RSF
Office area
Project gallery
Exterior, interior, and aerial perspectives of the facility.
Built for the demands of modern logistics
The facility was designed with institutional standards in mind. Every element serves the operational requirements of today's largest distributors.
Location
Status
Market
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