Realterm Logistics Acquires Industrial Property In Maspeth For $132M

The industrial property located at 50-35 56th Road in Maspeth has been sold for a price of $132,000,000. The transaction took place on January 13, 2022. The property was sold by Beverage Distribution Center Inc. and purchased by Realterm Logistics. The deal was facilitated by brokers Steve Binswanger, Gary Phillips, and Jeff Shriver from Eastdil Secured.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $132,000,000
• Date: January 13, 2022
• Address: 50-35 56th Road
• Market: Maspeth

The sale of this industrial property marks a significant transaction in the Maspeth market. Realterm Logistics, the buyer, recognized the value and potential of the property, leading to their decision to acquire it. On the other hand, Beverage Distribution Center Inc., the seller, saw this as an opportunity to divest their asset and capitalize on the market demand. The involvement of brokers Steve Binswanger, Gary Phillips, and Jeff Shriver from Eastdil Secured showcases their expertise in facilitating successful industrial property transactions in the area.