NEW YORK, NY – Real estate operator, Realterm has acquired a 21,000-square-foot final-mile warehouse in New York City.
Located at 34-52 Laurel Hill Blvd. in the Queens neighborhood of Maspeth, the property spans 1.5 acres and is designed to accommodate final-mile fulfillment, as well as food and beverage distribution.
The warehouse features 30 loading positions situated on three sides of the building for cross-docking, ample parking and multiple entry and exit points.
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The property offers access to Interstate 495 and Interstate 278.
"Given its location in the borough of Queens, Maspeth is known as one of the most outstanding warehouse submarkets in the New York City region with access to interstates and its immediate proximity to Manhattan," says Ben Andreycak, VP of East region acquisitions at Realterm. "The demand for functional final mile warehouses remains extremely strong making this an advantageous acquisition."
Stelth Realty's Isaac Ilkahnov facilitated the deal and represented Realterm in the transaction.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
