New York is starting to get comfortable with the idea of growing its industrial warehouse space vertically instead of horizontally. Several multistory warehouses, which are common in Asia, are under development in the Bronx, Brooklyn and Queens.
Rising on 14 acres in an Opportunity Zone in the Hunts Point neighborhood is the Bronx Logistics Center, a 1.3 million square foot multistory warehouse scheduled to be completed by the end of this year. The $381-million project is a joint venture of Turnbridge Equities and Dune Real Estate Partners.
The Bronx Logistics Center is about a mile from one of the nation's largest food markets, the Hunts Point Food Distribution Center, where more than 155 wholesalers sell $3 billion worth of meat, fish and produce annually.
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