Warehouse frenzy spawns another Queens project
Long Island City building will cater to small users Barone Management is raising a building in Long Island City to tap into the city's warehouse craze. The firm plans to spend about $30 million to develop a three-story, 88,000-square-foot commercial building at 9-03 44th Road with warehouse space on the ground floor. Interest in warehouses has grown dramatically among investors as e-commerce and other logistics tenants have sought out storage space for last-mile deliveries in the city. Scott Barone, the founder and president of Barone Management, said that has displaced demand from tradit...