Bayside, Queens – May 30, 2018 — Cushman & Wakefield today announced that the firm has been retained on an exclusive basis to arrange the sale of Northern Bell Plaza, a three-story retail and office building located at 213-01/11 Northern Boulevard in Bayside. The asking price is $17,950,000.
A team led by Vice Chairman Thomas A. Donovan, with Senior Managing Director Stephen R. Preuss, Director Eugene Kim, Director Tommy Lin and Associate Director Kevin Louie, will represent the seller in all marketing efforts.
“This offering will allow an investor to acquire a fully-leased property of newer construction with on-site parking, and presents a prime 1031 exchange opportunity,” said Thomas A. Donovan of Cushman & Wakefield.
“This section of Bayside is growing rapidly and experiencing a great volume of people due to its high-traffic Northern Boulevard location and proximity to Bell Boulevard,” added Stephen R. Preuss.
Northern Bell Plaza is a fully-occupied, 20,932 square-foot retail and office building with on-site parking and a single elevator operating on all floors and garage levels. Currently, the building consists of seven tenants occupying eight commercial units anchored by Alma Bank and 14,976 square-feet of underground garage space. The current lease expirations vary between 2020 and 2032 with various extension options.
Located in a growing area of Bayside, Northern Bell Plaza experiences over 34,000 vehicles passing daily. The property is conveniently situated two blocks away from the Bayside Long Island Rail Road and near multiple MTA bus lines.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, advisory and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.