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.

The building's scale is ideal for a large tenant seeking a logistics base in the New York area. The property will have cutting-edge, modern features, including direct loading on the first and second floors, each with a 130-foot truck court. The first floor will feature 32-foot clear heights, 40-foot by 40-foot column spacing as well as cross-docked loading with 74 dock doors and 2 drive-in doors. The second floor, which will be accessible by 53-foot tractor trailers via two, double wide ramps, will feature 28-foot clear heights, 80-foot by 80-foot column spacing, 37 loading dock doors and 2 drive-in doors.

The facility will include 133 exterior parking spaces for trailers and box trucks as well as 664 interior parking spaces for cars and sprinter vans. The building has been designed to add electric car charging stations in the parking structures and solar panels on the roof.

Within 30 minutes of 2505 Bruckner Boulevard is Manhattan, Queens, Brooklyn, Long Island and Connecticut, and is situated at the intersection of major highways including the Cross Bronx Expressway, Hutchinson River Parkway and the Bruckner Expressway and major bridges.

Instant Insights /

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

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