Wholesaler MySales just snatched up an industrial site at 75 Onderdonk Avenue in Ridgewood, Queens, for $25 million to be used as its new distribution center.
The sale, which closed July 19, will give MySales its new home as soon as distributor National Compressor Exchange moves out of the building at a yet-to-be-determined date, B6 Real Estate Advisors’ Robert Rappa, who was part of the team that represented the seller, Jason Richard Realty. The 66,000 Sq Ft. property comes with 61,000 square feet of air rights that can be added on.
The Queens market is becoming more popular for industrial space, spurred on by pandemic-caused growth in e-commerce, said Rappa. But industrial tenants who often require heavy machinery don’t often move locations, which is one of the reasons why this space was so appealing.
New Jersey-based MySales provides wholesale products to national chains like Dollar General and Dollar Tree, according to its website. It purchased the property on Onderdonk Avenue, past Scholes Street, in an all-cash buy with plans to use 3,000 square feet on the second floor for offices and 63,000 square feet of warehouse space for its business operations.