Lincoln Equities Inks New York Industrial Lease
A modular ramping provider will move its headquarters to the recently completed facility.
Lincoln Equities Group has signed a 109,450-square-foot long-term lease at its Lincoln Logistics Rockland, an industrial facility in Valley Cottage, N.Y.
The tenant is National Ramp, a residential and commercial modular ramping provider, that increased its footprint in Rockland County and will use the space to form a new corporate headquarters. JLL’s Executive Managing Director James Panczykowski represented the ownership and facilitated this transaction.
Lincoln Logistics Rockland is a recently completed, Class A distribution center that includes 220,000 square feet. The property is close to White Plains, N.Y., a suburban hub north of New York City that ended last year among the top emerging industrial markets in the U.S. for its development activity and high property values.
Located at 625 Corporate Way, the facility is close to Interstate 287, as well as to Palisades Interstate Parkway. Additionally, the Port of Newark-Elizabeth and major airports such as John F. Kennedy International Airport and Newark Liberty International Airport are within a 45-mile radius of the property.
Lincoln Logistics Rockland features 36-foot clear heights, 34 dock doors, two drive-in doors, a built-to-suit office component, 123 vehicle parking spots and 41 trailer parking spots. The property can also include expansion options of up to 55 dock doors and 53 trailer parking spots. The remaining 110,550 square feet are available for lease.
Deals and projects of two longtime partners
Lincoln Equities Group delivered the building with capital partner PCCP LLC and with construction funds totaling $37.7 million, secured in the form of a bridge loan originated by Principal Financial Group, according to CommercialEdge.
Meanwhile, the duo has a 204,407-square-foot industrial project currently underway in the area. Situated 30 miles from Lincoln Logistics Rockland and known as Belleville Logistics, the two-building industrial project is rising at 681 Main St. in Belleville, N.J. The partnership landed a $53.5 million senior construction loan for the development in April last year.
Lincoln Equities Group and PCCP LLC partnered for the first time in 2021, when they purchased a three-building industrial portfolio in the same area. Just last month, the partners sold off the 261,950-square-foot asset in a $62.8 million deal.
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