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Maspeth, Queens Coca-Cola Bottling Site for Sale

03/29/2017
Published By: Ioana Ginsac

 

propertyshark parcel map showing location of 59-02 borden avenue in Maspeth, Queens, NY

Location of 59-02 Borden Ave (PropertyShark parcel map)

New York-based Kaymac Corp. has contracted Pinnacle Realty to market its property at 59-02 Borden Ave.

The 7-acre site is located right off the Queens Midtown Expressway and houses a 202,000-square-foot mixed-use industrial/office facility that is triple-net-leased to the Coca-Cola Bottling Co.

According to The Real Deal, the lease expires in three years and the property is being marketed as a potential new development opportunity on the growing Queens commercial real estate market.

The PropertyShark-aggregated city data regarding 59-02 Borden Ave. shows that the building houses 12,545 square feet of office space and 189,505 square feet of factory/manufacturing space, with a total allowed usable floor area of 316,200 square feet – that leaves almost 114,000 square feet yet to be developed.

TRD sources that are familiar with the site expect that the property could sell for upwards of $70 million.

Coca-Cola also has a presence on the New York City office market – the soda manufacturer owns the 313,000-square-foot office building at 711 Fifth Ave and leases two floors at the 28-story building at 261 Madison Ave.

Release Date03/29/2017 - 08:55

Source

CommercialCafe

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