March 6th, 2018
Triangle Equities Secures $32M Financing for Multi-Level Air Cargo Facility Near JFK
Commercial Observer
Triangle Equities has secured a $32.1 million financing package to support the development of a cutting-edge, 300,000-square-foot air cargo and logistics facility located just three-quarters of a mile from John F. Kennedy International Airport. The financing includes a $19 million floating-rate loan from Citizens Bank and a $10.1 million joint-venture equity investment sourced through L&B Realty Advisors for a Midwest state pension fund. Triangle and its venture partner, Township Capital, provided the remaining equity.
The planned facility sits on an 18-acre site at 130-120 South Conduit Avenue in South Ozone Park and is designed as a three-story industrial complex with high-load capacity, featuring trailer dock access and ramp connectivity on multiple levels. Expected to break ground in late 2018, the project is aimed for delivery in summer 2020 and represents a first-of-its-kind vertical logistics solution for NYC.
This milestone marks Triangle Equities’ strategic expansion from traditional retail-focused investments into mission-critical “last-mile” logistics and air-freight infrastructure. The project’s innovative design and prime location address the surging demand for distribution and fulfillment space in dense urban markets like New York City.
