The Coca-Cola bottling plant in Maspeth is reportedly popping up on the market for more than $70 million.
According to The Real Deal, the 7.3-acre bottling site located at 59-02 Borden Ave. is being put up for sale by the owner. The property is currently triple-net-leased to the Coca-Cola Bottling Company until it expires in three years.
Sources informed The Real Deal that the owner, Kaymac Corporation, is interested in marketing the site as a potential development opportunity, and that it could sell for anywhere between $70 and $75 million.
The two-story warehouse that is on the site was built in the 1950s, and offers 316,200 buildable square feet, with 120,000 square feet of parking and loading space, The Real Deal said. Before the Coca-Cola Company leased the property, another soda company, Canada Dry, occupied the space for many years.
“The building owner, Kaymac Corporation, informed us they are selling the property and not renewing our lease,” said Francis McGorry, president and general manager of Coca-Cola Refreshments Tri-State Metro Operations. “As always, we will evaluate our options and do what’s best for our customers and associates.”