Winstanley Enterprises has acquired a 333,386-square-foot Class A industrial property in West Coxsackie, N.Y. Save A Lot sold the asset, according to CommercialEdge data. The industrial property changed hands for $20.5 million, as reported by the Albany Business Review. CBRE represented the seller.
Plans call for capital improvements to the facility’s interior and exterior, repositioning the property into a modern warehouse and distribution center. To be rebranded as Mid-Hudson Logistics Center, an additional 197,300 square feet could be added to the property.
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The 2003-built facility encompasses 209,162 square feet of dry storage space, 63,572 square feet of refrigerated storage and 40,476 square feet of freezer space. Additional features include 29-foot clear heights, 40- by 40-foot column spacing, 37 dry loading docks, 24 refrigerated loading docks and two drive-in docks, to name a few.
Located on a 30.7-acre parcel at 1 Van Bergen Lane inside the 100-acre Greene Business & Technology Park, the property is less than 1 mile from U.S. Route 9W and roughly 3 miles from Interstate 87. Additionally, the port of Coeymans is some 9 miles northeast, while the Port of Albany and the Albany International Airport operate roughly 20 and 30 miles away, respectively.
CBRE Associate Dan Simpson represented Save A Lot in the transaction proceedings.
Winstanley’s focus on the Northeastern industrial market
Winstanley Enterprises owns and operates north of 12.5 million square feet of commercial real estate. The firm concentrates on warehouse, logistics and manufacturing investments.
Primarily focused on the Northeast, the company expanded its footprint last year with the purchase of a fulfillment center in Windsor, Conn. Deka Immobilien Investment GmbH sold 200 Old Iron Ore Road for $122.3 million. The 1 million-square-foot industrial asset is situated on nearly 90 acres, with Amazon being a long-term tenant at the time of the transaction.