{"id":328599,"date":"2026-08-24T18:53:38","date_gmt":"2026-08-24T18:53:38","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/328599\/"},"modified":"2026-08-24T18:53:38","modified_gmt":"2026-08-24T18:53:38","slug":"dov-hertz-sells-staten-island-industrial-site-for-167m-2","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/328599\/","title":{"rendered":"Dov Hertz Sells Staten Island Industrial Site for $167M"},"content":{"rendered":"\n

This story was originally published on CRE Daily<\/a>. Join 70,000+ commercial real estate professionals getting daily news, market insights, and industry analysis delivered straight to their inbox with the free CRE Daily newsletter<\/a>. <\/p>\n

Key Takeaways <\/p>\n

Jadian Capital acquired a fully leased 53-acre industrial outdoor storage site at 1800 and 1900 South Avenue on Staten Island from Dov Hertz’s Kadima Industrial Partners for $167 million. <\/p>\n

Hertz’s DH Property Holdings bought the two parcels in 2020 and 2021 for a combined $79 million and invested roughly $10 million more in capital improvements before selling. <\/p>\n

The site’s road, rail, and maritime access, plus full occupancy from tenants City Asphalt and IAA, made it one of the most sought-after industrial sites in the region. <\/p>\n

Real estate investment firm Jadian Capital has acquired a 53-acre industrial site<\/a> on Staten Island’s west shore from Dov Hertz’s Kadima Industrial Partners for $167 million, according to Commercial Observer. The deal, brokered by Cushman & Wakefield, covers the industrial outdoor storage (IOS) parcels at 1900 and 1800 South Avenue \u2014 one of the largest fully leased sites of its kind to trade in the city. <\/p>\n

A Six-Year Hold <\/p>\n

Hertz’s DH Property Holdings assembled the site through two deals. The firm bought the parcels in 2020 and 2021 for a combined $79 million. <\/p>\n

It then invested about $10 million in capital improvements. Hertz later brought the property to market through Kadima Industrial Partners, its industrial-focused investment arm. <\/p>\n

The property sold for $167 million. That represents a gain of about $78 million over Hertz’s roughly $89 million all-in cost basis. The return was nearly 90% over six years. The gain highlights growing institutional demand for scarce industrial outdoor storage. <\/p>\n

The Details <\/p>\n

The property is fully leased to City Asphalt, an asphalt mixing plant, and auction house IAA. Both tenants rely on large outdoor areas to park and stage equipment. <\/p>\n

The site also has waterfront dock and rail access. Those features give tenants multiple ways to move materials and vehicles. <\/p>\n

Cushman & Wakefield’s Kyle Schmidt represented the seller. Gary Gabriel, Ryan Larkin, Seth Zuidema, Helen McCarthy Paul, Rico Murtha and Gurpreet Singh also worked on the deal. <\/p>\n

Schmidt called the property “a truly special industrial project” because of its scale and combination of road, rail and maritime access. He noted that few NYC sites offer similar functionality on a fully leased 53-acre footprint. <\/p>\n

It’s unclear who represented Jadian Capital. Representatives for Jadian and Kadima did not immediately respond to requests for comment. The Real Deal first reported the sale. <\/p>\n

Zooming Out <\/p>\n

The sale comes amid a broader surge of institutional capital targeting IOS. Earlier this year, Starwood and Realterm closed a record $672 million IOS loan<\/a>. <\/p>\n

Investors favor the asset class for its low maintenance costs and limited capital needs. Demand also remains steady from logistics, construction and last-mile delivery operators. Many of these users have been priced out of more expensive warehouse space. <\/p>\n

Schmidt said the deal reflects strong demand for scarce, well-located IOS in the region. That scarcity is especially acute in New York City. Zoning restrictions and competition from residential and last-mile warehouse development have reduced the supply of large outdoor storage sites. <\/p>\n

Why It Matters <\/p>\n

The deal shows that institutional buyers will pay a premium for large IOS sites with strong infrastructure. Rail and dock access are particularly difficult to replicate elsewhere in the city. <\/p>\n

It also highlights continued strength in NYC’s outer-borough industrial market. Leasing activity<\/a> has remained resilient as availability tightens across the five boroughs. <\/p>\n

Jadian plans to keep operating the property as an IOS facility. That preserves the existing tenancies that helped drive its value. <\/p>\n

What’s Next <\/p>\n

Kadima Industrial Partners remains an active IOS investor. Hertz’s next moves will be worth watching as institutional demand for the asset class grows. <\/p>\n

Jadian Capital now owns a marquee, fully leased outer-borough site. The property adds to its industrial portfolio at a time when large IOS parcels with maritime and rail access remain scarce near NYC. <\/p>\n

City Asphalt and IAA provide immediate, stabilized cash flow. That gives Jadian an income-producing asset without the lease-up or redevelopment risk of a repositioning play. <\/p>\n

More from CRE Daily <\/p>\n","protected":false},"excerpt":{"rendered":"This story was originally published on CRE Daily. Join 70,000+ commercial real estate professionals getting daily news, market…\n","protected":false},"author":2,"featured_media":328600,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39],"tags":[123544,123547,122500,24504,123542,123546,14981,123545,123543,9,24,63,134,136,135],"class_list":["post-328599","post","type-post","status-publish","format-standard","has-post-thumbnail","category-staten-island","tag-capital-improvements","tag-dh-property-holdings","tag-dov-hertz","tag-hertz","tag-industrial-partners","tag-industrial-site","tag-ios","tag-jadian-capital","tag-kadima-industrial-partners","tag-new-york","tag-new-york-city","tag-nyc","tag-staten-island","tag-staten-island-headlines","tag-staten-island-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/328599","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=328599"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/328599\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/328600"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=328599"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=328599"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=328599"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}