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Hospital buys industrial facility.

A 162,000 square foot industrial facility in Jamaica, Queens has been sold to the Jamaica Hospital.

Leon Casper of Cushman & Wakefield, exclusive agent for the seller, represented the owner, General Signal Corporation. Joseph A. Fabrizi, Jr and Christopher Kraus of Cushman & Wakefield represented the Jamaica Hospital as its exclusive brokers.

The building, on approximately 2.1 acres at the intersection of the Van Wyck Expressway and Jamaica Avenue, was used for many years and primarily occupied by the Axel Electronics Division of General Signal Corporation.

After two years of negotiations, a transaction was agreed upon, which included acquiring the 6.5-year lease-hold interest of Axel Electronics, now a privately owned company and no longer part of General Signal Corporation.

The Jamaica Hospital plans to utilize the land and building to supplement its present facilities and ultimately use the entire site for the long range expansion of the hospital.
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Title Annotation:Jamaica Hospital purchases industrial building in Jamaica, Queens, New York, New York
Publication:Real Estate Weekly
Date:Feb 17, 1993
Previous Article:Israel bond agent leases 35,000 sf at 575 Lexington.
Next Article:15-story apartment house sold.

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