Dov Hertz's Kadima Industrial Partners sold a 53-acre industrial outdoor storage site on Staten Island's west shore to New York-based Jadian Capital for $167 million. The property spans 1900 and 1800 South Avenue and represents a major transaction in the city's industrial market, which has remained resilient despite broader commercial real estate headwinds.
The deal underscores demand for industrial space in Staten Island, particularly outdoor storage facilities that serve the port and logistics operations surrounding the harbor. Cushman & Wakefield brokered the transaction. Hertz, a prominent industrial real estate investor, has been active in divesting assets as market conditions shift.
For industrial investors, the sale signals that waterfront Staten Island properties command strong valuations. The $167 million price reflects the site's proximity to port infrastructure and its utility for distribution, container storage, and vehicle storage operations. Tenants and logistics operators gain clarity on ownership and potential operational changes under Jadian Capital, though the transaction typically involves lease continuation agreements that protect existing users.
Jadian Capital's acquisition adds to its industrial footprint in the New York metropolitan area. The firm has built a portfolio focused on logistics and storage facilities serving the region's supply chains. This purchase positions Jadian to capture revenue from the steady demand for outdoor storage in the tri-state market, where limited land availability keeps rents elevated.
For sellers like Hertz, offloading major assets demonstrates strategic repositioning. Industrial properties on Staten Island have appreciated substantially over the past decade as e-commerce and port traffic have driven logistics demand. Exit timing matters for investors managing large portfolios through market cycles.
Landlords and tenants operating on the site benefit from owner certainty. Jadian Capital's acquisition likely means continued focus on industrial operations rather than conversion or redevelopment. The new ownership may bring capital investment into