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Acquisitions

Turnbridge Equities acquires Maspeth Industrial Warehouse

Turnbridge Equities has acquired 58-95 Maurice Avenue in Maspeth from CMJ Realty for $39.5 million. The two-story industrial warehouse spans 129,000 SF, and contains 11 loading docks, according to TRD

  • Dig Deeper: The fully occupied property counts FedEx, Skylift, and Dal-Tile as tenants. It’s positioned to reach more than 15 million people in last-mile distribution.
  • Acquisition financing: Turnbridge secured a $24 million mortgage from Ares Commercial Real Estate to close the deal. 
  • Spotting a trend: In January, the company bought a 1 million SF industrial site in New Jersey for $61 million. The firm also acquired an industrial development site in the South Bronx that could hold as much as 890,000 SF of warehouse space for $56 million. 
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