$75m Home Depot deal closes.Nine contiguous lots that will bring the first Home Depot The Home Depot (NYSE: HD) is an American retailer of home improvement and construction products and services. Headquartered in Vinings, just outside Atlanta in unincorporated Cobb County, Georgia, Home Depot employs more than 355,000 people and operates 2,164 big-box to the Jamaica section of Queens were sold by Massey Knakal Realty Services in a deal that totaled $75,000,000 in ground lease and sales transactions. The 613,000 buildable build·a·ble adj. Suitable or available for building: "The problem was finding a site that was well located, appropriately zoned . . . and buildable" Sam Hall Kaplan. square foot development site is located at 166-24 Jamaica Avenue Jamaica Avenue or The Ave., as it is called by locals, is a major avenue in the New York City borough of Queens, New York, United States. Jamaica Avenue starts off from Fulton Street (replacing East New York Avenue) in the East New York neighborhood in Brooklyn, and goes ; 92-11/47 Merrick Boulevard and 92-10/30 168th Street. The site offers 308 feet of frontage on Archer Avenue, 422 feet of frontage along Merrick Boulevard and 415 feet of frontage along 168th Street. The complex deal involved five different landlords and took the Massey Knakal team of Brian Sarath and Swain Weiner 3 1/2 years to consummate. The entire site has already been demolished. Home Depot is expected to open in Spring 2007. "We're thrilled to play an integral role in bringing The Home Depot to Jamaica Center and to be part of the revitalization occurring in the area," said Sarath, who exclusively represented the sellers. "Once an eyesore eye·sore n. Something, such as a distressed building, that is unpleasant or offensive to view. eyesore Noun something very ugly Noun 1. and vacant for 25 years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time Long Island Press Building is going to become an outstanding retail venue. This is a true milestone for the Jamaica community." The properties were purchased and ground let by Cerruzzi Holdings of Plainfield, CT & The Mattone Group of Whitestone, NY. Massey Knakal Realty Services was the sole broker. |
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