College Point Logistics Center
Developer Secures $94M Loan for College Point Industrial Project
Developer, , and investor, Drake Real Estate Partners, have just obtained a $94 million loan for a 3-story industrial project, set to rise at 28-02 Whitestone Expressway in College Point, Queens. Arranged by Walker & Dunlop, this influx of capital will be used to fund a majority of the construction costs for the $146 million project.
Designed by , the square foot structure will be known as "College Point Logistics Center". It will contain 83,696 square feet of ground-floor warehousing space, sitting below a two-story, structured parking facility, with enough room for 221 vehicles.
The building will also feature 36-foot clearance heights, 800 PSF floor loads, 12 exterior loading docks, 2 drive-in bays, and accessory office space. The property will additionally feature 72,609 square feet of surface-level parking.
General contractor, Hunter Roberts Construction Group, is in charge of overseeing the build at the highest level, and work permits have already been filed.
Spanning square feet, the project site is currently vacant. The subdivided parcel sits right next to The New York Times' newspaper printing plant and distribution center.