U.S. Innovo closes $34.1 mln acquisition of NY warehouse

07/03/2020 11:59:00 AM (GMT)

U.S.-based Innovo Property Group, a real estate investment and operating company, has closed on the purchase of a warehouse in Long Island City, New York (NY).

The one-story warehouse, zoned for about 400,000 square feet of commercial development, is situated at 28-90 Review Avenue in Long Island City.

The firm paid $34.1 million to JBL Asset Management LLC, a U.S. commercial real estate investment firm, to buy the warehouse.

Innovo Property, which was originally in talks to acquire the asset in 2018, intends to construct a ground-up warehouse on the site.

Innovo Property Group

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