Blake of Cushman & Wakefield | Pyramid Brokerage Sells Saugerties Business Park for $800,000
Date Posted: December 28, 2017
Saugerties, NY – Guy Blake, CCIM, of Cushman & Wakefield | Pyramid Brokerage Hudson Valley office, successfully brokered the sale of Saugerties Business Park. Blake represented the seller, Maxwell Enterprises, LLC. The property sold for $800,000.
The property, located on Peoples Road in Saugerties, NY, is a 12,000 sq. ft. multi-tenant industrial building on 10 acres. Built in 2010, the building features clear span, steel construction with 18’ ceilings. It was 100% occupied by 3 tenants at the time of sale. In addition to the existing building, there is room and approvals on site for 2 more identical buildings.
The buyer, KT Enterprises, LLC, owns a television production company. They provide equipment and crew to film various television productions. They intend to occupy half of the building and so had asked the largest tenant (whose lease had expired) to vacate the premises. “They were the perfect buyer for this property”, said Blake, “we knew we were going to lose the largest tenant sooner or later so investors were leery. These guys wanted to occupy that space so it worked out really well”.
Blake also handles leasing at the property, and is responsible for placing all of the tenants currently in possession.‹ Back to News