Melville industrial property trades for $20M
David Winzelberg //August 7, 2024//

An industrial property in Melville has sold for $20 million.

Kings Prime Equities LLC, an affiliate of Imperial Sales Inc., purchased the 91,728-square-foot building on 9.43 acres at 135 Baylis Road.

Imperial Sales, a wholesaler of brand-name appliances, is relocating from subleased space in Bethpage. The company received economic incentives from the Suffolk County Industrial Development Agency to assist in the acquisition and planned renovations to the Melville property.

The property at 135 Baylis Road was formerly occupied by national beverage distributor Keurig Dr. Pepper, but the tenant moved next door to a newly developed warehouse and distribution center at 125 Baylis Road, featuring 96,900 square feet of warehouse space with 32-foot ceilings.

Phil Shwom of Schacker Realty represented the buyer, while Richard Warshauer and Jason Maietta of Colliers represented the seller, Melville Beverage Partners LP, in the sales transaction.

“The property has substantial expansion potential making this an attractive purchase for a growth-conscious operation,” Shwom told LIBN. “This was a rare opportunity to buy a large industrial property in the desirable Melville Route 110 corridor.”https://libn.com/2024/08/07/melville-industrial-property-trades-for-20m/