NAI James E. Hanson on Monday announced the successful sale of the Westchester Industrial Portfolio — a six-property, 153,430-square-foot shallow-bay industrial collection in Mamaroneck that was sold by The Renatus Group to East Capital Partners.
The transaction was led by Senior Managing Directors Jordan Avanzato, Christopher Todd and Managing Director William Ericksen of the firm’s Capital Markets and Leasing Team.
The Westchester Industrial Portfolio is situated in a high-demand infill market, located immediately off Interstate 95 and Route 1. The portfolio is 100% leased to a diverse roster of 13 tenants across the following locations:
- 500 & 520 Fenimore Road
- 628 Waverly Avenue
- 480-500, 503 & 510 Ogden Avenue
East Capital Partners acquired the asset with a “mark-to-market” business plan, aiming to capitalize on the rising lease rates for shallow-bay industrial spaces in the supply-constrained Westchester market.
The deal reflects a broader 2026 trend where institutional capital is increasingly targeting “shallow-bay” properties—smaller-scale industrial units that offer high functionality for regional distributors.
“Demand for institutional-quality shallow-bay product remains strong, especially in supply-constrained infill markets like Westchester County,” Jordan Avanzato said. “We were pleased to identify and secure a highly qualified buyer following a targeted and competitive process.”
Christopher Todd added that the portfolio’s proximity to major transportation corridors and its diversified rent roll were key drivers for the buyer. “This deal underscores the appeal of the Westchester market among institutional firms seeking both strong in-place income and future value-add potential,” Todd noted.
The sale comes on the heels of a major expansion for NAI James E. Hanson, which grew its platform in 2025 through the acquisition of The Garibaldi Group and NAI Summit. Since its founding in 1955, the firm has remained a dominant player in the New Jersey and New York metropolitan industrial sectors.
