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Innovo Property and Square Mile Land $305M For Bronx Industrial Facility

Innovo Property Group and Square Mile Capital Management are developing a one million square foot, two-story Class A logistics and distribution facility at 2505 Bruckner Boulevard in the Bronx.

2505 Bruckner Boulevard.

NEW YORK CITY- Innovo Property Group and Square Mile Capital Management have landed $305 million in construction financing from the Bank OZK and EverWest Real Estate Investors to develop a one million square foot, two-story Class A logistics and distribution facility at 2505 Bruckner Boulevard in the Bronx. Cushman & Wakefield arranged the financing.

Construction on the 20-acre site has begun and the project is dated for completion in the first quarter of 2022. IPG and Square Mile Capital acquired 2505 Bruckner in 2017. When completed, the facility is expected to clock in at more than one million square feet.

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Mariah Brown

Mariah Brown

Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.

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