UPS sells Maspeth warehouse to Terreno for $13.9 million

United Parcel Service sold a warehouse parcel at 43-22 55th Avenue in Maspeth, Queens to Terreno 55th Avenue LLC for $13,875,000, according to a deed recorded with the city register on October 27. The entity name on the buyer side points to Terreno Realty Corporation, the publicly traded industrial landlord that has been assembling UPS-vacated buildings across the city.

Why it matters

A shrinking UPS real estate footprint in New York hands industrial landlords another shot at older, well-located parcels the carrier no longer needs for its own network. For developers watching the outer-borough industrial market, every UPS disposal is a signal of where last-mile space is loosening up, and who is positioned to buy it.

The numbers

The deed, filed under document ID 2026102201098001, lists United Parcel Service, Inc. of Atlanta as the seller and Terreno 55th Avenue LLC of San Francisco, the address used by Terreno Realty Corporation, as the buyer. The parcel is Queens block 2525, lot 17, recorded with a document date of October 20 and a city register recording date of October 27. The sale price is $13,875,000.

It is not the first time Terreno has bought a UPS-vacated New York industrial building. In July 2025, Terreno acquired a former UPS customer center at 49-10 27th Street in Long Island City for roughly $31.1 million, according to Commercial Observer.

What’s next

Terreno has typically renovated UPS-vacated buildings for new industrial tenants rather than holding them as-is, based on its prior Long Island City deal. Whether 43-22 55th Avenue follows that pattern, and whether UPS lists further New York warehouse space, will show up in future ACRIS filings and DOB permit activity. For more on industrial and warehouse activity across the city, see The American Developer’s New York market hub.