A massive one-story office space in Woodside was sold for $25.2 million.
The 83,000-square-foot building at 26-15 Brooklyn-Queens Expwy., which housed office space for Bulova, a luxury watchmaker, also includes two parking lots that span 91,000 square feet, according to the Commercial Observer.
Terreno Realty Corporation, which specializes in industrial real estate, purchased the property earlier this month. Bulova has owned the property since 2007 and has operated in that location for more than three decades, the Commercial Observer reported.
According to a Terreno Realty press release, the facility also includes six dock-high and one grade-level loading docks, parking for 168 cars and is 23 percent leased to one tenant on a short-term basis.
The real estate company will look to renovate the property, which has 60,000 square feet in unused air rights, and lease it to industrial companies.
“The warehouse features a unique urban distribution facility, which would be ideal for many users including third-party logistics providers; auto dealerships; or fleet parking,” Jacob Tzfanya, director at Eastern Consolidated, the company hired to market the building told the Commercial Observer. “The property also offers tremendous signage potential from a billboard located on the property, which is visible from the [Brooklyn Queens Expressway].”
