Cumberland Farms Offloads Brooklyn Gas Station Site for $3.1M
Gus Delaporte June 17, 2014, 7:30 a.m.
Massachusetts-based convenience store chain Cumberland Farms has sold the site of its Gulf gas station at 157 Empire Boulevard to Life Storage for $3.1 million, according to property records.
The property, on the border of Crown Heights and Prospect Lefferts Gardens, is zoned for up to 32,000 square feet of buildable space and is expected to be redeveloped. Illinois-based Life Storage is a developer and operator of storage facilities.
“It’s going to be a development site; we did get a lot of storage interest,” said Mike Amirkhanian, a director of sales at Massey Knakal Realty Services, who brokered the transaction. Interest also came from hotel and traditional retail developers, he added.
The tanks and canopy were removed from the gas station prior to the sale to make way for development. Cumberland Farms bought the site from BNY Western Trust Company for $1.18 million in 2003, property records show. The company acquired Gulf Oil’s gas stations and trademark in the Northeast in 1986.