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Acquisition
June 4, 2021
May 19, 2021 – Queens, NY – Seagis Property Group announced today that it has acquired a 9,800 square foot industrial building with an adjoining 14,900 square foot parking lot. The property is located at 58-17 59th Drive at the corner of Flushing Avenue and 59th Drive in the Maspeth neighborhood of Queens.
Seagis purchased the property fully occupied. This is Seagis’ third acquisition in Maspeth and increases the Company’s portfolio in the Boroughs of New York City to 58 buildings totaling 1.2 million square feet.
“This high-quality property is a great addition to our growing outer Boroughs portfolio. The 9,800 SF warehouse combined with a 14,900 SF secured parking lot makes this acquisition unique and attractive. Maspeth continues to be a desirable location for our company to invest due to its functional building stock, proximity to dense neighborhoods, and access to major highways. Our company is actively looking to add buildings of similar quality to our portfolio” said Stefan Sansone, Director with Seagis Property Group based out of the company’s Brooklyn office.
Seagis Property Group LP (“Seagis”)
Seagis Property Group LP (“Seagis”) is a privately held industrial real estate owner and investor focused on the acquisition and development of properties located in logistically driven markets along the Eastern Seaboard. The company’s current portfolio spans more than 13 million square feet of space in New Jersey, New York, and South Florida. Seagis acquires stabilized core, core-plus, value-add, and development real estate for logistics use. Since its inception in 2005, Seagis has successfully acquired and developed more than 14.3 million square feet of industrial space. Seagis is headquartered in Conshohocken, Pennsylvania, located in suburban Philadelphia.