Elm Street Sports Groups LLC purchased the industrial building at 1 Elm Street in Ardsley, NY for $3.9 million, or about $49 per square feet.
Located in Westchester County, the two-story warehouse is being renovated into a multi-million dollar sports center with occupancy slated for fall 2012. The complex will provide more space for local sports teams which have experienced a major shortage in training facilities in recent years.
Ann Silver and Paul Adler of Rand Commercial Services brokered the deal for the buyer and the seller, Ardsley Realty Associate LLC.
Silver believes the complex has potential for growth. "We are excited about the creative reuse of the building, as well as the number of jobs it will bring to the area - it's a win-win situation, and we are very pleased to be a part of this project."
The sports center is expected to create 13 full-time jobs, 16 part-time jobs and 25 seasonal jobs.
Please refer to Costar COMPS #2206518 for more information on this transaction.