Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors,

omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of

the property (or properties) in question.

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

For more information, please contact:

INDUSTRIAL INVESTMENT SALE

24 Elizabeth Drive

Chester (Orange County), NY

Robert W. Scherreik, CCIM, SIOR, MCR

Executive Managing Director

Real Estate Broker

+1 845 787 1373

rscherreik@pyramidbrokerage.com

PYRAMID BROKERAGECOMPANY

356 Meadow Avenue, 2nd

Floor

Newburgh, NY 12550

pyramidbrokerage.com

OFFERING SUMMARY:

As owner’s exclusive agent, we are offering for sale the fee simple interest

subject to two leasehold interests. Structural steel frame and tilt-up

concrete panel Class A building built in 1989 in excellent condition on

±6.25-acre lot. Building includes 91,410 sq. ft. of warehouse space and

9,764 sq. ft. of office space on two levels. Municipal utilities. 24’ clear

ceilings. 18 loading docks and one drive-in door.

±101,174 SQ. FT. INDUSTRIAL / OFFICE BLDG.

Fully Leased to Two Tenants for Over 5 Years

INVESTMENT SALE –100% LEASED

LOCATION: Situated in Orange County’s largest industrial park with

over 3.4 million sq. ft.; neighbors include Amscan, Pep Boys, C&S,

Steris, and Iron Mountain. 4 minute drive to NY Route 17, Exit 126

(Chester), 30 minutes to Mahwah, NJ, 45 minutes to Tappan Zee

Bridge.

TENANTS: ±92,519 sq. ft. leased to Barrett Distribution Centers, Inc.,

and ±8,655 sq. ft. leased back to Community Products LLC. Both

leases will expire on 12/31/2024. Each tenant has options for two 5-

year extensions.

EXPANSION: Original site plan included approvals for 31,992 sq. ft.

expansion.

SALE PRICE: $9,750,000

YEAR 1 NNN RENT: $686,724

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors,

omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of

the property (or properties) in question.

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

For more information, please contact:

CHESTER INDUSTRIAL PARK

24 Elizabeth Drive

Chester (Orange County), NY

Robert W. Scherreik, CCIM, SIOR, MCR

Executive Managing Director

Real Estate Broker

+1 845 787 1373

rscherreik@pyramidbrokerage.com

PYRAMID BROKERAGECOMPANY

356 Meadow Avenue, 2nd

Floor

Newburgh, NY 12550

pyramidbrokerage.com

AERIAL PHOTO OF CHESTER INDUSTRIAL PARK

C&S WHOLESALE

PEP BOYS

STERIS

STERIS AMSCAN

SUBJECT

N.Y. Route 94Exit 126

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors,

omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of

the property (or properties) in question.

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

For more information, please contact:

CHESTER INDUSTRIAL PARK

24 Elizabeth Drive

Chester (Orange County), NY

Robert W. Scherreik, CCIM, SIOR, MCR

Executive Managing Director

Real Estate Broker

+1 845 787 1373

rscherreik@pyramidbrokerage.com

PYRAMID BROKERAGECOMPANY

356 Meadow Avenue, 2nd

Floor

Newburgh, NY 12550

pyramidbrokerage.com

PROPERTY & SITE DESCRIPTION

GROSS BUILDING AREA: ±101,174 sq. ft. total, with

±91,410 sq. ft. of warehouse space and ±4,882 sq. ft. of

offices on ground level, and ±4,882 sq. ft. of offices on

mezzanine. ±9,764 sq. ft. total office space (9.7% of

total building area).

ORIGINAL DEVELOPER: B.A. Karbank & Co.

constructed building to suit that it leased to GE Supply.

YEAR BUILT: 1989

FLOORS: Poured concrete footings and 6” reinforced

concrete slab on grade.

EXTERIOR WALLS: Concrete tilt-up panels with sealed

joints.

FLOORS: Carpet, ceramic, clay or vinyl tile in office

areas. Painted/sealed concrete in warehouse.

ROOF: 60 mil EPDM single-ply membrane with gravel

ballast over 2” isocyanurate insulation on metal deck

that is sloped in two directions towards six interior

drains. Roof inspected by engineer in March 2019 and

found to be in “good condition and the building is

watertight” (report available upon request).

COLUMN SPACING: 36’ (north-south) x 44’ (east-west)

CEILING HEIGHT: 24’ clear

ELECTRIC: 1,200 amp, 480/277 volt, 3 phase, 4 wire.

Back-up diesel generator for emergency services.

Provided by Orange & Rockland Utilities.

HVAC: Heat for industrial space provided by natural

gas-fired, floor-mounted Johnson air rotation unit with

blowers rated at maximum 3 million BTU/h. Additional

fans for air movement. HVAC for offices provided by

roof-mounted package units and distribution ducting.

LOADING: Eighteen tailgate-level loading docks with

8.5’ x 10’ doors having seals, bumpers, and levelers on

east wall. One 14’ x 14’ drive-in door on north wall, and

one 6’ x 8’ UPS-height loading dock on north wall.

LIGHTING: T-5 fluorescent lamps with motion sensors

in warehouse.

SECURITY: Full security and fire protection system

serviced by ADT.

PARKING: 21 surface spaces adjacent to offices

include two handicap spaces. Additional spaces

possible along edge of loading aprons. Space to store

±8 trailers along north side of building.

SPRINKLERS: 100% wet system. Booster pump

pressurizes three risers.

BATHROOMS: Two sets of men’s and women’s

lavatories located in finished office area, and trucker

lavatory near loading docks. Shower stall in office area

ground level.

EXPANSION: Original site plan included approvals for

31,992 sq. ft. expansion on west side of existing

building.

ZONING: Village of Chester’s “M-1 Light Manufacturing /

Research” zoning district. Permitted uses are wholesale

storage and warehouse facilities; manufacturing,

processing, producing and fabricating operations which

do not produce any noises, fumes, odors or vibrations;

research labs; and business and industrial office

facilities, Special permit uses include outdoor storage of

various materials if properly screened.

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors,

omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of

the property (or properties) in question.

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

For more information, please contact:

CHESTER INDUSTRIAL PARK

24 Elizabeth Drive

Chester (Orange County), NY

Robert W. Scherreik, CCIM, SIOR, MCR

Executive Managing Director

Real Estate Broker

+1 845 787 1373

rscherreik@pyramidbrokerage.com

PYRAMID BROKERAGECOMPANY

356 Meadow Avenue, 2nd

Floor

Newburgh, NY 12550

pyramidbrokerage.com

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors,

omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of

the property (or properties) in question.

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

For more information, please contact:

CHESTER INDUSTRIAL PARK

24 Elizabeth Drive

Chester (Orange County), NY

Robert W. Scherreik, CCIM, SIOR, MCR

Executive Managing Director

Real Estate Broker

+1 845 787 1373

rscherreik@pyramidbrokerage.com

PYRAMID BROKERAGECOMPANY

356 Meadow Avenue, 2nd

Floor

Newburgh, NY 12550

pyramidbrokerage.com

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors,

omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of

the property (or properties) in question.

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

For more information, please contact:

CHESTER INDUSTRIAL PARK

24 Elizabeth Drive

Chester (Orange County), NY

Robert W. Scherreik, CCIM, SIOR, MCR

Executive Managing Director

Real Estate Broker

+1 845 787 1373

rscherreik@pyramidbrokerage.com

PYRAMID BROKERAGECOMPANY

356 Meadow Avenue, 2nd

Floor

Newburgh, NY 12550

pyramidbrokerage.com

SITE PLAN

Original site plan

Included approval

For 31,992 SF

Building expansion

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors,

omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of

the property (or properties) in question.

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

For more information, please contact:

CHESTER INDUSTRIAL PARK

24 Elizabeth Drive

Chester (Orange County), NY

Robert W. Scherreik, CCIM, SIOR, MCR

Executive Managing Director

Real Estate Broker

+1 845 787 1373

rscherreik@pyramidbrokerage.com

PYRAMID BROKERAGECOMPANY

356 Meadow Avenue, 2nd

Floor

Newburgh, NY 12550

pyramidbrokerage.com

FLOOR PLAN SHOWING MATERIAL HANDLING SYSTEMS

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors,

omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of

the property (or properties) in question.

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

For more information, please contact:

CHESTER INDUSTRIAL PARK

24 Elizabeth Drive

Chester (Orange County), NY

Robert W. Scherreik, CCIM, SIOR, MCR

Executive Managing Director

Real Estate Broker

+1 845 787 1373

rscherreik@pyramidbrokerage.com

PYRAMID BROKERAGECOMPANY

356 Meadow Avenue, 2nd

Floor

Newburgh, NY 12550

pyramidbrokerage.com

OFFICE AREA - FLOOR PLAN OF FIRST FLOOR

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors,

omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of

the property (or properties) in question.

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

For more information, please contact:

CHESTER INDUSTRIAL PARK

24 Elizabeth Drive

Chester (Orange County), NY

Robert W. Scherreik, CCIM, SIOR, MCR

Executive Managing Director

Real Estate Broker

+1 845 787 1373

rscherreik@pyramidbrokerage.com

PYRAMID BROKERAGECOMPANY

356 Meadow Avenue, 2nd

Floor

Newburgh, NY 12550

pyramidbrokerage.com

OFFICE AREA - FLOOR PLAN OF SECOND FLOOR

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors,

omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of

the property (or properties) in question.

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

For more information, please contact:

CHESTER INDUSTRIAL PARK

24 Elizabeth Drive

Chester (Orange County), NY

Robert W. Scherreik, CCIM, SIOR, MCR

Executive Managing Director

Real Estate Broker

+1 845 787 1373

rscherreik@pyramidbrokerage.com

PYRAMID BROKERAGECOMPANY

356 Meadow Avenue, 2nd

Floor

Newburgh, NY 12550

pyramidbrokerage.com

LOCATION & MARKET ANALYSIS

The 24 Elizabeth Drive property is located in the Village of Chester in the southeast portion of Orange County.

Orange County is located about 45 miles northwest of New York City in the Hudson Valley of New York State.

The County is bounded by Sullivan and Ulster Counties on the north, Rockland County and then New Jersey

counties of Passaic and Sussex on the south, the Hudson River on the east, and Pike County in Pennsylvania

on the west. Within its borders are three cities (Middletown, Port Jervis, and Newburgh), 20 towns and 17

villages.

According to the federal Census 2010, Orange County had a population of 372,813 residents, an increase of

9.2% over the prior decade. In comparison, the total New York State change over the same period was 2.3%.

Population forecasts by the Program on Applied Demographics at Cornell University estimate that the County

will add more than 60,000 residents during the 2010-2020 period which equates to a 16.3% increase over

Census 2010 levels.

The NYS Department of Labor’s Area Summary reports the civilian work force in Orange County to be about

176,900 in June 2019. Unemployment in the County is at 3.4% (June 2019), while the NY State unemployment

is 3.8%.

Orange County has an excellent highway network. This includes the NY State Thruway (Interstate 87),

Interstate 84, and N.Y. Route 17 (future Interstate 86). These roads connect and provide fast access to the N.Y.

metropolitan area as well as the surrounding states of New Jersey, Pennsylvania, and Connecticut.

Orange County has been very successful in attracting new industrial and corporate businesses to a number of

business parks located throughout the County. Among the reasons for this success are the County’s proximity

to NYC, a superior transportation network, the availability of industrial lots served by sewer and water, and the

efforts of an outstanding private-public economic development group – the Orange County Partnership.

According to its 2018 Orange County Commercial Real Estate Market Review, Mansfield Commercial Real

Estate reports that, at the end of 2018, the industrial vacancy rate in Orange County was under 2% based on

total inventory of about 23 million sq. ft. There was about 1,000,000 sq. ft. of total absorption during 2018.

About 500,000 sq. ft. of new spec industrial space is under construction and scheduled for delivery during 2019.

The largest spec building will be a 240,000 sq. ft. building being by Matrix Development in the Town of

Wawayanda; this project follows Matrix’ 2017 successful spec development of a 565,000 sq. ft. building in

Newburgh that was fully leased prior to completion. There is also over 2,500,000 sq. ft. of user and spec

industrial buildings seeking approvals. Most notably, Medline Corporation plans to build a 1,300,000 sq. ft.

distribution center in Montgomery. Elsewhere in Montgomery, Bluewater Industrial expects to receive approvals

to build a spec 1,000,000 sq. ft. building that reportedly is being leased to Amazon.

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors,

omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of

the property (or properties) in question.

Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.

Independently Owned and Operated / A Member of the Cushman & Wakefield Alliance

For more information, please contact:

CHESTER INDUSTRIAL PARK

24 Elizabeth Drive

Chester (Orange County), NY

Robert W. Scherreik, CCIM, SIOR, MCR

Executive Managing Director

Real Estate Broker

+1 845 787 1373

rscherreik@pyramidbrokerage.com

PYRAMID BROKERAGECOMPANY

356 Meadow Avenue, 2nd

Floor

Newburgh, NY 12550

pyramidbrokerage.com

REGIONAL MAP

www.pyramidbrokerage.com

ROBERT W. SCHERREIK,

SIOR, CCIM, MCR

Executive Managing Director

Real Estate Broker

(845) 787 1373

356 Meadow Avenue, 2nd floor

Newburgh, NY 12550

RScherreik@pyramidbrokerage.com