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.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).