Sagard Real Estate Breaks Ground on 1 Nassau Place, a Premier Warehouse Development in Staten Island, NY
08 July 2024 - 11:00PM
Business Wire
Sagard Real Estate, formerly known as EverWest Real Estate
Investors, a leading real estate investment advisor, today
announced the groundbreaking of 1 Nassau Place, a 332,000 square
foot Class-A warehouse development in Staten Island, NY. This
state-of-the-art facility is designed with top-of-the-market
specifications to meet the growing demand for high-quality
industrial space in one of the nation’s strongest submarkets.
"We are excited to initiate the development of 1 Nassau Place, a
project that underscores our commitment to creating best-in-class
assets in high-demand markets," stated Brad Natale, Director,
Portfolio Management at Sagard Real Estate. "This development
aligns with our strategy of investing in markets with high barriers
to entry and strong growth potential."
Natale further highlighted the strategic significance of the
location, "Staten Island is a prime logistics hub with sub-3%
vacancy rates and limited new construction. The site’s proximity to
Route 440, major interchanges, and excellent labor access makes it
an ideal location for industrial tenants."
Brian Wood, Senior Director, Head of Development for Sagard Real
Estate added, “The inclusion of features such as 36' clear height,
60 dock doors, and rooftop solar panels ensures that 1 Nassau Place
will set a new standard for industrial properties in the area."
The facility will boast 36-foot clear height, 60 dock doors, 175
car parking spaces, ESFR fire protection, rooftop solar panels, and
full site circulation with two points of ingress and egress. Its
strategic location less than a mile from Route 440 provides easy
access to the New Jersey Turnpike/I-287 interchange, enhancing its
appeal for logistics and distribution operations. The site's
excellent labor access is further supported by an MTA bus stop in
front of the property and its walking distance proximity to the
Arthur Kill Staten Island Railway station.
Scheduled for completion in late 2025, 1 Nassau Place is poised
to become a key asset in Sagard Real Estate’s portfolio, offering
significant potential for rental growth and tenant demand in a
robust market environment.
About Sagard Real Estate - Sagard Real Estate is a real
estate investment advisor and operator providing investment
management services throughout the U.S., including portfolio
management, acquisitions, asset management, development, and
property management for our investors. With $4.9 billion in assets
under management, our clients invest in a variety of commercial
real estate investment strategies through separate accounts and
commingled funds. In operation since 1997, Sagard Real Estate is
based in Denver, with regional investment offices in New York City,
Charlotte, Austin, Los Angeles, and San Francisco metro areas.
Sagard Real Estate is a part of Sagard, a multi-strategy
alternative asset management firm. Sagard’s leading shareholder is
Power Corporation of Canada, an international management and
holding company focusing on financial services in North America,
Europe, and Asia. For more information, visit
www.Sagard.com/RealEstate.
About Sagard - Sagard is a global multi-strategy
alternative asset management firm with more than US$25B under
management, 125 portfolio companies, and 300 professionals. We
invest in venture capital, private equity, private credit, and real
estate. We deliver flexible capital, an entrepreneurial culture,
and a global network of investors, commercial partners, advisors,
and value-creation experts. The firm has offices in Canada, the
United States, and Europe. For more information, visit
www.sagard.com.
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Bristol Jones sagard@avenuez.com