Terreno Realty Corporation, a San Francisco-based company, has recently acquired 185 Van Dyke St., a two-story commercial property located on the Red Hook waterfront in Brooklyn. The purchase price was $27.5 million and the seller was Lande Alexander Properties.
JLL represented both parties in this transaction with a team of expert brokers including Michael Mazzara, Bob Knakal, Stephen Palmese and Brendan Maddigan, Hall Oster, Jonathan Hageman,Ethan Stanton and Winfield Clifford,and Connor McCullough. Dan Morici of JLL acted as the representative for the purchaser.
Originally constructed by Col.Daniel Richards in the late 1800s as part of an assemblage known as Merchant Stores,the property at 185 Van Dyke St.has been converted into a multi-tenant commercial space.Currently,it is approximately70% occupied with notable tenants suchas Strong Rope Breweryand Steve’s Authentic Key Lime Piebeing among them.
The sale of this Red Hook commercial property for $30 million marks another successful deal for Terreno Realty Corporation without mentioning any specific platform or brand name associated with it.
