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California firm spends $72M on trio of Queens dev sites


A California-based company has purchased three development ... Packaging and Star Corrugated Box Co., according to property records. LBA is a real estate investment and management company that focuses on office and industrial properties.


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By Eddie Small | February 26, 2018 02:20PM 54-15, 55-15, 56-19 Grand Avenue and David Thomas of LBA Realty (Credit: Google Maps and LinkedIn) A California-based company has purchased three development sites spanning roughly 385,000 square feet for $72 million. LBA Realty bought the properties 54-15, 55-15 and 56-19 Grand Avenue in Maspeth from buyers including Cascades Containerboard Packaging and Star Corrugated Box Co., according to property records. LBA is a real estate investment and management company that focuses on office and industrial propertiesThe company owns more than 13 million square feet of office space and more than 26 million square feet of industrial space in the western United States, and the Queens purchase appears to be its first in New York City, according to its website.

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