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.