TA ASSOCIATES BUYS $57.2M JFK AIR CARGO PORTFOLIO

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NEW YORK CITY — TA Associates Realty has acquired the JFK Cargo portfolio, which includes 12 buildings adjacent to JFK International Airport's runway system in Queens, for $57.2 million. In addition to the 12 properties totaling 481,000 square feet, the deal includes eight land parcels. The buildings are 93 percent occupied, primarily by freight forwarders such as Aramex International, Gourmet Boutique and Aaron Rents Inc. The eight parcels are currently used as parking lots, but could provide additional on-site expansion. Andrew Merin, David Bernhaut, Gary Gabriel and Kyle Schmidt of Cushman & Wakefield represented the seller, Prologis Inc., in the transaction. They also procured the buyer.

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