Dov Hertz Offloads Major Staten Island Industrial Site for $167M

A 53-acre industrial outdoor storage (IOS) parcel on Staten Island just changed hands for $167 million. 

Real estate investment firm Jadian Capital acquired the property at 1900 and 1800 South Avenue, located on the island’s west shore, from Dov Hertz’s Kadima Industrial Partners, according to broker Cushman & Wakefield. The Real Deal first reported the news. 

“A well-deserved congrats to Kadima Industrial Partners and our buyer for closing one of the market’s largest industrial outdoor storage trades,” Kyle Schmidt, a vice chairman at C&W, wrote in a LinkedIn post Tuesday. “Fully leased, the 53-acre property illustrates the continued user and capital demand for sites offering proximity to infrastructure and consumers.”

Spokespeople for C&W, Jadian Capital and Kadima Industrial did not immediately respond to Commercial Observer’s requests for comment. 

Schmidt listed C&W brokers Gary Gabriel, Ryan Larkin, Seth Zuidema, Helen McCarthy Paul, Rico Murtha and Gurpreet Singh in his LinkedIn post as representing the seller. It is unclear who represented the buyer in this deal. 

Hertz’s DH Property Holdings had acquired both Staten Island sites in two separate transactions — one in 2020 and the other in 2021 — for a total of $79 million, according to TRD. Since then, the property owner spent about $10 million in capital projects on the site. 

The property is fully leased to asphalt mixing plant City Asphalt and auction house IAA, with both a waterfront dock and train access. Jadian will continue to operate the property as an IOS facility, according to TRD. 

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.