STORE Capital acquires lease valued at $56.8M from Education Capital Solutions at industrial in Red Hook

STORE Capital through its Store Master Funding X, LLC acquired a ground lease valued at $56.8 million from Education Capital Solutions, LLC for a building at 556 Columbia Street in Red Hook, Brooklyn.
The deal closed on December 29, 2020 and was recorded on May 10, 2021.
The property has 98,632 square feet of built space and 0 square feet of additional air rights for a total buildable of 48,200 square feet according to PincusCo analysis of city data. The sale price per built square foot is $575 per the PincusCo analysis.

(320843110)The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building on August 28, 2015. (320843110) Plans for a 91 574.0 square-foot E were filed on August 7, 2013.

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