(Read more on the industrial market.)

BROOKLYN, NY-OCS Industries, a manufacturer of metal products, has subleased 40,000 sf at 2015 Pitkin Ave. in the East Williamsburg section of Brooklyn. The sublease accommodates the relocation for current lease-holder Old Williamsburgh Candle Co., a candle manufacturer, and the new tenant has signed for the remaining seven years of the lease.

Kalmon Dolgin Affiliates’ Berel Nagel arranged a 40,000-sf sublease for OCS Industries. Mr. Nagel represented the lease-holder, Old Williamsburgh Candle Co. in the transaction.

Situated in East New York Industrial Park, the lease is comprised of a 30,000-sf space inside of a larger 70,000-sf, single-story warehouse building. The 10,000-sf outdoor area is part of a larger 20,000-sf fenced-in parking lot. The property features five large loading docks, heavy power, a fully-sprinklered interior and is minutes to J.F.K. Airport, Belt Parkway, Van Wyck Expressway and Atlantic Avenue.

Sources close to the deal tell GlobeSt.com that the amount per sf based on 30,000 sf with 3% increases each year is $8.70 per sf. The aggregate value of the lease total over seven years is $2 million.

“In an effort to move into their newly-constructed manufacturing facility just a few blocks away, Old Williamsburgh Candle Co. sought to satisfy the remainder of their lease with a top industrial tenant whose business could utilize all that this space has to offer,” Mr. Nagel stated. “East New York is a New York City Empire Zone as well, offering tax and energy incentive programs to qualified tenants seeking value.”

Kalmon Dolgin Affiliates is a 103-year-old, Brooklyn-based real estate firm. In addition to providing brokerage and management services, Kalmon Dolgin has acquired $300 million of its own real estate assets within the past year alone, primarily industrial and medical/office properties.

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