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Urban Industrial Land
Urban Industrial Land
Between 2007 and 2016, more than 11M SF of industrial space was wiped out by rezoning in New York, approximately 8% of the current inventory. Though there are many neighborhoods still zoned manufacturing (Gowanus, Hunts Point, Bushwick), there has been pressure to covert much of this land into residential or commercial.
Within 30 minutes of site
Within 60 minutes of site
Location
Location
An urban warehouse based in the Bronx has the capability of reaching more than 8 million people out of the target market of 10 million within 30 minutes. And about 90 percent of the most populated neighborhoods can be reached within 60 minutes.
New York Example
New York Example
Using the estimates in Prologis research and using comps from the New York City market, we can see that the real estate needs of traditional retailer has the potential to cost much more that the needs of a e-commerce retailer. Though the price per square foot will differ from location to location, the relative costs should be similar in most cities.
E-commerce
E-commerce
1285 Oak Point Ave
1285 Oak Point Ave
Bronx
Bronx
Price: $12,000,000
Price Per SF: $300
Property Type: Industrial, Warehouse
Building Area: 40,000 SF
Transportation: I-87, I-95 & The Bruckner Expressway
Zoning: M1-2
FAR: 2
Traditional
Traditional
290 Elizabeth Ave, Newark
290 Elizabeth Ave, Newark
Price: $5,350,000
Price Per SF: $111
Property Type: Industrial, Warehouse
Building Area: 48,000 SF
Transportation: I-78
Zoning: Medium Industrial, I-2
Max Stories: 8
276 Grand St
276 Grand St
Brooklyn
Brooklyn
Price:$5,250,000
Price Per SF: $682
Property Type: Retail, Apartment
Building Area: 7,695 sq ft/ 1650 sq ft Retail
Zoning: R6B, C2-4 Zoning
FAR: 2
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