J.W. Mays Inc Dossier
Qualitative Analysis
Business overview
J.W. Mays, Inc. (NASDAQ: MAYS) is a specialized, tightly controlled commercial real estate company headquartered in Brooklyn, New York. Founded in 1924 as a department store business, the company transitioned to real estate operations following the closure of its retail operations in the late 1980s. Today, J.W. Mays owns, operates, and leases a portfolio of commercial properties concentrated primarily in New York, including key locations in Brooklyn, Jamaica, Fishkill, Levittown, and Massapequa, as well as Circleville, Ohio. The company's business model focuses on generating rental income from office, retail, and related commercial spaces under operating leases. A defining characteristic of J.W. Mays is its dual-class share structure, which grants the founding Mays family majority voting control, allowing the company to operate with a long-term horizon and minimal Wall Street engagement.
Research as of 19 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
Actively marketing the commercial property at 25 Elm Place in Brooklyn, New York, for potential sale to unaffiliated third-party buyers to address liquidity needs.
Expected impact: Generate cash proceeds to bolster liquidity while continuing normal operations and potentially relocating existing tenants to 9 Bond Street.
Constructing expansion rentable space at the Route 9 / Interstate 84 property in Fishkill, New York, for an existing tenant.
Expected impact: Adds 75,500 square feet of leased space under a 15-year lease, driving long-term rental revenue growth.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Strategic Partnerships
Engaged to actively market the 25 Elm Place property in Brooklyn to unaffiliated third-party buyers as part of the company's liquidity management strategy.
Terms: Not publicly disclosed.
Provided an $8,000,000 non-revolving mortgage-backed credit facility to fund the expansion of the Fishkill, New York property.
Terms: Floating interest rate during the advance period (WSJ Prime plus 100 bps, minimum 7.25%), converting to a 25-year amortization schedule starting May 12, 2027, maturing May 1, 2036.