Industrial Property Transactions and Redevelopment

Represented a prominent New York City developer in connection with a $37 million purchase of an industrial property located at 94-104 Glenn Street, Lawrence, MA, which houses a warehouse facility.

Represented First-Citizens Bank & Trust Company in connection with a $52.3 million construction loan to a joint venture comprised of Wheelock Street Capital and Foundry Commercial for the construction of an industrial building located at 3800 S. Congress Avenue in Boynton Beach, FL.

Represented a private lender in an acquisition loan with respect to an industrial outdoor storage facility in Cinnaminson, New Jersey. 

Represented a prominent developer in the acquisition, financing negotiations and ultimate $60 million sale of the purchase contract for a two-acre warehouse site at 150 East 52nd Street in Brooklyn, NY to the mammoth warehouse landlord, Prologis.

Represented the HK Organization in a joint venture with Midtown Equities and Rockwood Capital to redevelop Brooklyn’s Empire Stores, a complex of seven historic warehouses. The property was transformed into a mixed-use creative hub with 100,000-sq.-ft. of retail, restaurant and event space in addition to 300,000-sq.-ft. of office space.

Represented an affiliate of a prominent developer in the acquisition of an industrial development site on Columbia Street in Red Hook, Brooklyn.

Representing Property Markets Group (PMG) regarding New York City’s rezoning study for the Gowanus Canal area. Herrick successfully completed a year-long review process at the New York City Planning Department to "certify" the Gowanus Canal public access plan – include a 20,000 sq. ft. shorefront esplanade PMG's development site at Sackett and Bond Streets. We are thrilled that PMG is one of the first developers in the Gowanus to gain approval from City Planning following the November 2021 rezoning of the area. This critical milestone and approval will now allow PMG to proceed with a Building Permit to allow construction at their site – providing the team with enough time to complete construction and qualify for the now-expired 421-a program before the final June 2026 deadline. The Development is currently planned to include 500+ units of housing, including a significant permanently affordable housing component, ground floor retail, and a publicly-accessible esplanade and open space filled with recreational activities, art, and amenities along the Gowanus Canal.

Represented an affiliate of Somerset Partners in the $7.5 million acquisition and financing of 9 Bruckner Boulevard in the South Bronx. The industrial site, which is situated opposite of Somerset’s planned residential development project along the waterfront, will be converted into a 30,000-sq.-ft. Bruckner Market food hall.