As retailers continue to seek ways to deliver their products to as many customers as possible as fast as possible, developers are building bigger and taller than ever to help them.
As retailers continue to seek ways to deliver their products to as many customers as possible as fast as possible, developers are building bigger and taller than ever to help them.
Bridge Development Partners and DH Property Holdings have joined forces to acquire an 18-acre site in Brooklyn, where they plan to build a four-story, 1.3M SF distribution center, the largest multistory warehouse in the United States.
The joint venture, backed by equity partner Banner Oak Capital Partners, acquired Sunset
Industrial Park along the Gowanus Canal for $225M from The 601W Cos., GlobeSt reports.
Bridge and DH, run by developer Dov Hertz, plan to demolish the existing brick industrial buildings on the site and replace them with the behemoth. The warehouse would allow trucks to access all four floors, with 38-foot clearance heights on the bottom two floors and 28-foot clearances on the top two.
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DH Property Holdings is a leading real estate development, investment and asset management firm focusing on complex industrial distribution warehouses in dense, urban-core areas.
