NEW YORK, Sept. 23, 2021 /PRNewswire/ -- Walker &
Dunlop, Inc. announced today that it served as exclusive advisor in
the $57,250,000 sale of a
70,500 square-foot, specialty industrial building in Queens, New York. The facility and 2.9-acre
land parcel are situated in the Maspeth neighborhood, a highly sought-after
location for last-mile distribution centers serving the
New York market that provides
exceptional ease of access to industrial tenants as well as
The transaction represents the emerging trend of industrial
parks being developed within high-barrier-to-entry urban infill
locations. The need for such localized distribution facilities to
serve as last-mile distribution centers has increased
significantly, thanks to increased demand for e-commerce and
shortened delivery windows.
Walker & Dunlop's Mo Beler,
led the transaction alongside Aaron
Appel, Keith Kurland,
Jonathan Schwartz, Adam Schwartz, Michael
Diaz, and Taylor Geiger. The
team worked closely with the owner, Gary
Korn, of Wharton Equity Partners, to market the property and
facilitate the disposition to EverWest Real Estate Investors, a
Colorado-based investment fund.
Throughout the sale process, Walker & Dunlop worked through
complex transaction details, including managing tenant holdovers,
collaborating with a variety of consultants, contractors, and
third-party experts, as well as arranging a consolidated team of
experts for the transaction.
Mr. Korn commented, "Wharton has worked with Walker &
Dunlop's New York City Capital Markets team for some time, and we
were thrilled with both the depth of their industrial expertise and
the creativity they brought to this complicated transaction. The
team helped us to unlock and realize the value of this unique asset
and provided us with seamless execution every step of the way."
Beler noted, "We put our deep experience of raising equity in
the industrial sector to work for our valued client, Mr. Korn. From
the initial engagement, we made sure that we understood both the
seller's and buyers' needs, resulting in a transaction that
benefited all parties."
Walker & Dunlop has one of the strongest networks in the
industry, which includes over 250 capital sources. The firm
completed $11 billion in brokered
loan originations in 2020, a 6% increase over 2019. For more
insights on the industrial market, including trends driving new
warehouse construction, the need for urban infill industrial
properties, and case studies on recently closed transactions,
please see our Industrial Market Report.
About Walker & Dunlop
Walker & Dunlop (NYSE:
WD) is the largest provider of capital to the multifamily industry
in the United States and the
fourth largest lender on all commercial real estate including
industrial, office, retail, and hospitality. Walker & Dunlop
enables real estate owners and operators to bring their visions of
communities — where Americans live, work, shop and play — to life.
The power of our people, premier brand, and industry-leading
technology make us more insightful and valuable to our clients,
providing an unmatched experience every step of the way. With over
1,000 employees across every major U.S. market, Walker & Dunlop
has consistently been named one of Fortune's Great Places to
Work® and is committed to making the commercial real
estate industry more inclusive and diverse while creating
meaningful social, environmental, and economic change in our
View original content to download
SOURCE Walker & Dunlop, Inc.