NEW YORK CITY-A venture of Parkwill Management Corp. of New York City and SunCap Property Group of Charlotte, NC has acquired a vacant parcel of land near the Gateway Center in Brooklyn for $40 million.
The new ownership plans to build a FedEx distribution facility at the 428,550-square-foot vacant property at 830 Fountain Ave., according to The Real Deal.
The property was sold by Brooklyn-based development firm Bawabeh Realty Holdings, which recently scrapped plans to develop a big-box retail development at the site.
TerraCRG founder Ofer Cohen represented the seller in the deal. James Rougan of Cushman & Wakefield handled the transaction for the buyers. See story in The Real Deal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
