Seagis Property Group has acquired a 79,920 square foot warehouse at 5700 49th Place in the Maspeth neighborhood of Queens, NY. The building offers 28-foot clear ceilings, 9 covered loading positions, and 3 exterior loading positions. The building is 1 mile from the Brooklyn-Queens Expressway (I-278) and provides ready access to Manhattan via the Williamsburg Bridge and Queens-Midtown Tunnel. The Philadelphia-based buyer intends to undergo a comprehensive rehabilitation of the asset. Seagis Property Group LP owns and operates over 10 million square feet of industrial buildings in logistically driven locations along the Eastern Seaboard. Terms of the sale were not disclosed.
“Seagis now owns 46 buildings in the Outer Boroughs totaling approximately 1 million square feet. We are encouraged by the success of our New York Metro portfolio, and look forward to continued growth in this dynamic marketplace,” said Omer Mir Ahmed, Principal – Seagis Property Group.
