Brookfield Inks New York Full-Building Lease
The tenant will occupy more than 300,000 square feet.
Brookfield Properties has signed a full-building industrial lease with PrimeSource Building Products in Montgomery, N.Y. The tenant will occupy the entire 312,567-square-foot Maybrook Logistics Center. Newmark and Resource Realty of Northern New Jersey represented the tenant and the owner, respectively.
PrimeSource will utilize the space to facilitate the delivery of residential and commercial construction materials throughout New York, New Jersey, Connecticut and Pennsylvania.
Brookfield developed Maybrook Logistics Center with the help of a $31.4 million construction loan issued by Customers Bank in 2023, according to CommercialEdge data. The warehouse debuted this year on 40 acres at 134 Neelytown Road.
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Aiming for LEED certification, the industrial building features 36-foot clear heights, 60-foot speed bays, two drive-in doors and 74 loading doors. The property has 98 car and 129 trailer parking spaces.
The facility is less than 1 mile away from Interstate 84 and about 9 miles from New York Stewart International Airport. The location is also 3 miles from Medline’s 1.3 million-square-foot distribution center.
Another industrial tenant in the area is Amazon, which fully leased a 1 million-square-foot facility owned by Affinius Capital. That property is roughly 6 miles from Maybrook Logistics Center.
Newmark Executive Managing Directors Frank Puskarich and Art Ross represented PrimeSource Building Products. Resource Realty of Northern New Jersey Principals Tom Consiglio and Scott Peck negotiated on behalf of Brookfield Properties.
Brookfield Properties’ industrial footprint
Brookfield owns more than 45 million square feet of logistics space across North America. The company has an additional 24 million square feet of industrial space in its development pipeline.
One of the underway projects is Liberty Commerce Center, a 414,368-square-foot distribution facility in Jersey City, N.J. Brookfield acquired the development site in 2023 and completion is expected next year.
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