ONYX EQUITIES ACQUIRES BRADLEY CORPORATE PARK IN ROCKLAND COUNTY, N.Y.
Blauvelt, N.Y. – May 07, 2019 – The joint venture between Onyx Equities, LLC and Angelo Gordon announce the purchase of Bradley Corporate Park, located at 500 Bradley Hill Road in Blauvelt, N.Y. This deal marks the largest commercial acquisition in Rockland County since 2016. The 1.2 million-square-foot industrial complex consists of 16 buildings across 180 acres. The CBRE BoroLogistics team of Brad Cohen, Jacob Tzfanya and Jon Kamali, along with Brian Fiumara of CBRE National Partners, represented the buyers in the record-setting deal. Onyx Equities’ Chief Investment Officer, Stephen Sullivan added, “The acquisition of Bradley Corporate Center has expanded our portfolio into the high-barrier-to -entry, infill market of Rockland County. This portfolio provides our venture stable cash flow with the ability to increase revenue through strategic renovation and lease up, as well as potential for development.”
“We are very excited to have closed our first deal with Onyx Equities, and continued our approach of seeking value-add industrial opportunities,” said Daniel Rudin, Managing Director at Angelo Gordon.
“The new owners plan to upgrade the existing building infrastructure and lease-up the current vacancies in the portfolio, which is about 90 percent occupied,” said CBRE’s Joseph Tzfanya. “The location in Rockland County is an ideal choice for distribution companies looking for expansion opportunities. Bradley Corporate Park is located just west of White Plains, N.Y. and only 45 minutes from Midtown Manhattan, offering convenient distribution to Tri-State area markets. The Park offers quick access to commercial corridor including I-287, The New York State Thruway, the Palisades Parkway and Route 303.”