An industrial property in Melville has sold for $14.5 million. 

Manhattan-based Bridge Logistics Properties purchased the 50,000-square-foot building on 5 acres at 5 Park Drive. 

The building, which features about 10,000 square feet of refrigeration and freezer space, is fully leased to Ferraro Foods and has six loading docks and two drive-in doors. 

This is the second Long Island acquisition in just two weeks for Bridge Logistics. The company purchased a 83,000-square-foot industrial building on 4.89 acres at 355 Crooked Hill Road in Brentwood for $18.15 million earlier this month.

Bridge Logistics is a subsidiary of publicly traded Bridge Investment Group Holdings, which reported net income of $97.5 million for the first quarter of 2022, according to its financial statement. The company had $38.8 billion worth of assets under management at the end of Q1 2022.  

Jason Miller and Jeff Schwartzberg of Premier Commercial Real Estate represented the buyer, while Alberto Fiorini and Frank Posillico of Alliance Real Estate represented seller Park Drive LLC in the Melville sales transaction. 





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