Fly E-Bike Signs 52K-SF Industrial Lease in Maspeth
By Mark Hallum February 28, 2024 4:36 pm
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Fly E-Bike — a manufacturer of electric bikes, scooters, moped and motorbikes — is establishing a presence in Maspeth, Queens.
The company signed a five-year, 52,000-square-foot lease to open a warehouse at The Davis Companies" class="company-link">The Davis Companies’ 58-30 Grand Avenue, Crain’s New York Business first reported.
The asking rent was unclear but Queens saw an average asking rent of $26.33 per square foot for industrial space in the fourth quarter of 2023, according to a Cushman & Wakefield report.
C&W’s Joseph Hentze, Joshua Kleinberg, Helen Paul, Rico Murtha, Gurpreet “Sonny” Singh and Amanda Gerhardt represented The Davis Companies in the deal while Pinnacle Realty handled negotiations on behalf of Fly E-Bike.
Names of the Pinnacle brokers were not disclosed, and spokespeople for C&W and Pinnacle did not immediately respond to requests for comment.
Constructed in 1930, the building has a total of 156,792 square feet and sits at the corner of Grand Avenue and Rust Street.
Fly E-Bike was established in 2018 and has picked up a lot of momentum as it has grown to at least 40 retail locations throughout the tri-state area as well as Maryland and Pennsylvania, including four in Queens.
While the components for its products are fabricated in China, Fly E-Bike’s vehicles, which cater to food delivery workers, are assembled in warehouses in the United States, according to the company’s website.
The company said it plans to expand into South America and Europe.
Mark Hallum can be reached at mhallum@commercialobserver.com.
