Prologis Acquires Industrial Property On Grand Avenue In Maspeth, Queens For $51M

Prologis, a leading industrial real estate company, has acquired an industrial property located at 48-00 Grand Avenue in Maspeth, Queens. The property, with a total square footage of 446,176, is zoned as M3-1, making it suitable for industrial use. The transaction took place on November 13, 2020, with a sale price of $51,000,000.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $51,000,000
• Address: 48-00 Grand Avenue, Maspeth, Queens
• Market: Maspeth, Queens

The seller, Family Radio, worked with the real estate agency Quantiera to find the right purchaser for the property. Prologis, represented by Hamid Moghadam, emerged as the buyer, providing Family Radio with both continuity of operations and certainty of closing within a challenging market environment. The purchaser has plans to utilize the property for parking and storage purposes.

For more information about this transaction or similar deals, please contact Ben Carlos Thypin directly at Ben@Quantierra.com or visit Quantiera's Instagram page @Quantierra_.