Maspeth, Queens Coca-Cola Bottling Site for Sale
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.
Location of 59-02 Borden Ave (PropertyShark parcel map)
Looking for the perfect space for your business? Head over to CommercialCafe and start your search!
Ioana Ginsac
Senior Content Writer, Industry News & Reports
Ioana is a content writer who has been covering all-things-CRE (and more) for several Yardi network publications since 2017. You will find her byline regularly in industry news and market reports, but also on articles covering sustainable development, green urbanism, and innovation, all of which she has been passionately learning about for more than a decade. Her work has been referenced by publications including AmericanInno, Bisnow, BusinessInsider, Commercial Property Executive, Curbed, Fast Company, Forbes, GlobeSt.
