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Jones Lang LaSalle (“JLL”) has been exclusively retained to offer for sale the 100% fee simple interest in 707 11th Avenue (the “Property”), a 162,017 square foot multi-use property located in the Midtown West submarket of Manhattan. Situated over two M2-4 zoned lots totaling 27,615 square feet, the Property occupies a desirable location in Midtown Manhattan’s only designated Opportunity Zone. Currently 23% leased to KCP Holdco, Inc. (“KCP”), prospective investors have the opportunity to retain the existing use of the Property or exercise the landlord termination option, obtain vacant possession and pursue an as-of-right last-mile industrial, life science or self-storage redevelopment. The Property occupies a proven, high-barrier to entry last-mile location ideally situated directly across from Amazon’s brand-new Manhattan distribution center. The Property offers prospective investors the rare opportunity to acquire an M-zoned, urban infill property with in-place cash flow, upzoning potential, and exceptional as-of-right redevelopment optionality in one of the nation’s hottest industrial markets: New York City.
- Exceptional Redevelopment Potential
- In-Place Cash Flow with Landlord Termination Option
- Existing Office Lease-Up and Expansion Upside
- Ideally Located at the Convergence of High-Growth NYC Submarkets