Electrical Supplier WEC Inks 26K-SF Deal at Jamaica Warehouse
By Abigail Nehring August 8, 2024 6:55 pm
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Electrical supplier Wholesale Electric Caribe (WEC) is ready to turn the lights on at a new location in Jamaica, Queens.
WEC signed a four-year lease for 26,000 square feet at 182-20 Liberty Avenue, according to landlord broker Pinnacle Realty. Asking rent was $24 per square foot, a spokesperson for Pinnacle said.
Miami-based Elion Partners bought the 180,000-square-foot property, next to the Long Island Railroad’s Hillside Yard, for $58 million in 2021 at the peak of New York City’s e-commerce boom. The one-story warehouse’s high ceilings, 17 loading docks and proximity to John F. Kennedy International Airport made it a good fit for WEC, said Pinnacle’s Paul Bralower, who represented the landlord along with David Junik, George Margaronis and Brendan Burke.
“This building is situated just five miles from JFK, offering a great solution to the airport industrial market, which has limited availability and high demand,” Bralower said in an email.
That makes it convenient for WEC, an international vendor of electrical, solar and lighting equipment. The company is headquartered in Puerto Rico and has recently been expanding in the mainland United States, with new branches in New Jersey and Florida, plus a sales office in Washington, D.C., according to the company’s website. Its website doesn’t list a New York City location.
CBRE (CBRE)’s William Jordan arranged the deal for WEC and did not respond to requests for comment.
Abigail Nehring can be reached at anehring@commercialobserver.com.
