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Realterm Makes Second Acquisition in Maspeth
Realterm closed the acquisition of a 130,000-square-foot final-mile warehouse at 50-35 56th Rd. in Queens’ Maspeth neighborhood. The fully leased property has 15 loading positions, excess parking and an efficient layout that is suitable for final-mile delivery services.
The 5.2-acre site is five miles from LaGuardia Airport, 14 miles from John F. Kennedy International Airport and eight miles from the Port of New York and New Jersey.
“Maspeth is an outstanding warehouse submarket and ranks first in terms of drive time when compared to other surrounding industrial nodes,” said Stephen Panos, SVP and fund manager, Realterm. “This is Realterm’s second acquisition in the Maspeth submarket and the 28th in the New York metropolitan aea portfolio and exemplifies our strategy of acquiring functional high flow-through properties in strong markets.”
Eastdil Secured represented the seller and Isaac Ilkhanov of Stelth Group represented Realterm.
- ◦Sale/Acquisition