Ofer Cohen and Dan Marks

“Having a global company like that showing confidence in betting on urban infill industrial was a really important step for growth,” said Dan Marks, partner at TerraCRG.

“Brooklyn has always had a proud industrial history,” he added. “For the last 10 years, there was this idea of repositioning industrial into other uses, like office or creative-type uses. And definitely over the last 12 to 24 months, that has shifted with the focus on last-mile distribution.”

The firm also brokered the sale of the second-largest transaction in Gowanus last year, a $55 million sale of the South Brooklyn Casket Company portfolio, composed of two parcels along Third Avenue and Union Street in the heart of the neighborhood’s proposed rezoning area.

“It’s a really good example of the typical mom-and-pop operators and owners that we really specialize in working with,” Marks said.

While the coronavirus outbreak has slowed activity, the firm is still crossing the finish line on deals — primarily those where there was a motivation to sign on the dotted line pre-COVID, said Ofer Cohen, the firm’s founder and CEO.

“I think September is going to be a pivotal moment,” Cohen said. “The moment of adjustment has happened already, and I think the next few months are going to be more about the first transactions to kind of manifest the realities of the market.”

In the meantime, the firm continues to focus on its Brooklyn roots and is doubling down on its already strong commitment to the local community. For his part, Cohen serves as co-chair of the Downtown Brooklyn Partnership and also sits on the board of the Brooklyn Navy Yard.

“It’s more about weaving ourselves as people into the fabric of Brooklyn, which not only gives us a front-row seat in terms of seeing the city developing, but also being able to really help and impact and influence where the city and where Brooklyn is going, which is something we deeply care about,” Cohen said.—S.G.