50-35 56th Road
Maspeth Distribution Center Trades for $132M
A large industrial warehouse at 50-35 56th Road in Maspeth, Queens has just traded hands for $132 million. Previously owned by Beverage Distribution Center Inc, it was scooped up by industrial property investment titan, Realterm Logistics.
Used as a distribution facility by Canada Dry Bottling Company, the warehouse totals 140,000 square feet. This breaks down into 100,000 square feet of storage space, and 40,000 square feet of office space, located in a 2-story section at the right front corner of the building. The facility features 3-high clearance, drive-in doors, and 7-loading docks, which are capable of handling full tractor-trailer setups.
The property also provides plenty of parking for delivery vehicles in a large triangle-shaped lot next to the building. It's unclear if Realterm has any plans to redevelop the warehouse, but seeing as the facility already has a proven functional use, it's unlikely.