Select Transactions

Medford, New York

• 42,759 Square Feet

• Value-Add Industrial with Outdoor Storage

In August 2023, Anchor Capital Partners acquired a 42,749 SF vacant, single-tenant warehouse with parking and outdoor storage on 3.1 acres. The property is ideally situated directly between the Long Island Expressway (I-495) and Sunrise Highway in Suffolk County, Long Island, providing convenient access to both Long Island and New York City.

ACP immediately initiated its value-add business plan of performing building-wide capital expenditures and demising the building into a two-tenant facility, having successfully navigated a complex bureaucratic process . In an off-market acquisition process, ACP relied on its intimate knowledge of the local submarket and recognized that the property contained unique characteristics that would generate a premium in rent relative to nearby vacancies, especially if the property were to be converted into a multi-tenant facility.

The property is currently stabilized, with 50% of the building leased to a subsidiary of a $66 billion public company, and 50% of the building leased to a well-capitalized and rapidly growing building systems & contracting services firm.

The deal is currently performing above base case projections.

Huntington Station, New York

• 30,500 Square Feet

• Value-Add Industrial

In April 2022, Anchor Capital Partners acquired a 30,500 SF multi-tenant shallow-bay industrial asset primely located within Huntington Station, New York.

ACP recognized that the property’s in-place tenants were paying under market rents, and near-term expirations provide the opportunity to lease to stronger tenants at higher rates while also converting to a triple-net structure. Additionally, we recognized a submarket supply crunch for automotive use buildings, allowing ACP to further push rents.

In Q4 of 2024, ACP completed its leasing plan, turning over 30% of the building. Low credit tenancy on modified gross lease structures were replaced with a strong operator on triple net basis, increasing blended net rents by ~25%. The property is currently stabilized and performing above base case projections.