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The Latest UPS Headlines
UPS Buys Red Hook Warehouse Site From Sitex for $303M
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<blockquote data-quote="cheryl" data-source="post: 3874216" data-attributes="member: 1"><p><strong>UPS Buys Red Hook Warehouse Site From Sitex for $303M - Commercial Observer</strong></p><p></p><p>Global shipper <strong>United Parcel Service</strong> has paid $303 million to buy a Red Hook, Brooklyn industrial complex where it signed a triple-net lease last autumn, according to property records.</p><p></p><p>The deal, which closed last Wednesday, gives UPS control of a 350,000-square-foot distribution hub that spans five street addressed along Brooklyn’s <strong>East River</strong> waterfront: <strong>219 Sullivan Street</strong>, <strong>202</strong> and <strong>242 Coffey Street</strong>, and <strong>68</strong> and <strong>100 Ferris Street</strong>. In addition to the existing structures on the property, previously owned by seller <strong>Sitex</strong>, there’s room for 1.2 million square feet of new construction, <em>The Real Deal</em> previously <a href="https://therealdeal.com/2017/10/30/ups-signs-megadeals-in-bk-and-queens/" target="_blank">reported</a>.</p><p></p><p>“The Brooklyn property is one of the locations UPS is considering to further optimize our ground network across the Northeast,” a spokesman for UPS told Commercial Observer in an email. “The property acquisition is one of many initial steps in the feasibility and planning process for the proposed project.”</p></blockquote><p></p>
[QUOTE="cheryl, post: 3874216, member: 1"] [B]UPS Buys Red Hook Warehouse Site From Sitex for $303M - Commercial Observer[/B] Global shipper [B]United Parcel Service[/B] has paid $303 million to buy a Red Hook, Brooklyn industrial complex where it signed a triple-net lease last autumn, according to property records. The deal, which closed last Wednesday, gives UPS control of a 350,000-square-foot distribution hub that spans five street addressed along Brooklyn’s [B]East River[/B] waterfront: [B]219 Sullivan Street[/B], [B]202[/B] and [B]242 Coffey Street[/B], and [B]68[/B] and [B]100 Ferris Street[/B]. In addition to the existing structures on the property, previously owned by seller [B]Sitex[/B], there’s room for 1.2 million square feet of new construction, [I]The Real Deal[/I] previously [URL='https://therealdeal.com/2017/10/30/ups-signs-megadeals-in-bk-and-queens/']reported[/URL]. “The Brooklyn property is one of the locations UPS is considering to further optimize our ground network across the Northeast,” a spokesman for UPS told Commercial Observer in an email. “The property acquisition is one of many initial steps in the feasibility and planning process for the proposed project.” [/QUOTE]
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UPS Buys Red Hook Warehouse Site From Sitex for $303M
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