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Sitex Group pays $50M for Maspeth industrial property

Sitex Group has snapped up a 3.37-acre industrial site in Maspeth for about $50 million, more than 10 times what the seller bought it for 17 years ago.

The New Jersey-based industrial firm recently closed on the deal to acquire the property at 58-80 Borden Avenue, Pinnacle Realty’s David Junik told The Real Deal.

Read more at The Real Deal