NEW YORK—Morris Maspeth Associates LLC, an entity controlled by The Morris Companies, has acquired 57-54 Page Place in Maspeth, N.Y. for $39.5 million.
Jeffrey Dunne, Michael Caprile, Steven Bardsley, Kevin Welsh and Michael Hines of CBRE’s institutional group, along with John Reinertsen of CBRE’s Long Island City office, represented the seller, NATMI Truck Terminals LLC, in the transaction, and also procured the buyer.
The 56,966-sq.-ft. facility is located in the 70.4 million-sq.-ft. Queens industrial market and was acquired by in 2009 by NATMI Truck Terminals, a joint venture between Realterm NAT, LaSalle Income & Growth Fund V and Assurant, Inc.
Situated on approximately seven acres at the corner of Maspeth Avenue and Page Place, the property offers two points of ingress/egress.