Baylis 495 Business Park Sells for $44 Million

A new warehouse and distribution facility in Melville, spanning 103,000 SF on eight acres, has been sold for $44 million to BGO, a Miami-based global real estate investment firm.

The property, known as Baylis 495 Business Park, was recently redeveloped by Creation Equity and PREMIER Design + Build Group. Bohler’s Melville, New York, office provided site civil engineering design and permitting services for the project, which received the 2023 Top Commercial Redevelopment Award from LIBN.

The facility, which replaced a 100,000 SF office building, offers 32-foot-high ceilings, 20 dock doors, and two drive-in bays, offering 96,900 SF of warehouse space and 6,600 SF of office space. Keurig Dr. Pepper signed a long-term lease for the property in 2022, relocating from a nearby building.

Creation’s Luke Georgiadis, Vice President of Transactions, expressed gratitude to the teams involved in the project, stating, “The sale of Baylis 495 epitomizes nearly three years of dedicated effort and remarkable execution by our team. From identifying the site in 2021 and swiftly obtaining approvals to the remarkable transformation of the property into an award-winning logistics facility, pre-leased to a key player in the beverage sector, every aspect has seamlessly come together. Thank you to the teams at J.P. Morgan, Premier Design + Build Group, Bohler, and Weber Law Group for making this project a success.”

Read the full article in Long Island Business News.