The huge 390,000 square foot facility, located at 635 Zerega Avenue, will likely be converted into a trucking depot.
A spokeswoman for Home Depot, Jennifer King, confirmed the property is currently in contract. The perspective buyer is already unveiling his plans.
“We are performing our due diligence on the property,” said Manny Ciminello, of Ciminello Property. “We are in contract to buy the property, and are currently marketing it as rental warehouse distribution center.”
Ciminello hopes to put to rest reports in other newspapers that the store will become a big box retailer, and said that any use of the property would conform to zoning codes. He said that his family manages industrial properties, and the uses of this site will be completely industrial.
The property sits in the highly desirable Zerega Industrial Business Zone, which is managed by the Bronx Overall Economic Development Corporation. In addition, the zone has joined the state’s Empire Zone program.
On April 4, an application for a permit to transform the former retail store into a trucking terminal, parking facility, and warehouse was filed. The permit was granted on April 25.
The plans call for cutting the number of parking spaces from the current 574 to 200, allowing increased room for large trucks. Five loading berths for tractor-trailer trucks will service the facility.
In addition, there will be an accessory warehouse, accessory offices, as well as a locker room and lounge for employees.
The 137,699 square foot building on the facility will remain one story, as it has since the building opened as a Home Depot in 2001. Nothing in the current plans calls for any additions to the existing building or other alterations.
Bob Bieder, a spokesman for the BOEDC, said opening up shop for trucking distribution at the site holds several benefits for the companies that desperately need this type of space.
On the other hand, Bieder said the sheer size of the property also poses challenges to finding the right tenant.
“It is worth hundreds of thousands of dollars to the right employer,” Bieder stated. “There is a big demand for this type of space because of the tax benefits of locating in the E2 zone. BOEDC is always receiving inquiries from businesses for this type of space.”
©2008 Community News Group