The family that has owned the Atlas Terminals in Glendale for about 90 years is offering the industrial site for sale.
“We’ve owned Atlas Terminals since the 1920s but it may be time to sell the property,” said Damon Hemmerdinger, senior vice president for ATCO Properties and Management.
“ATCO’s commitment to Queens remains strong,” he said in a prepared statement. “We plan to reinvest the proceeds in Queens, and we will keep our accounting, acquisitions and property management teams in the area. Neither the statement nor the company’s media representatives disclosed an asking price
The site is 11.3 acres, located on Cooper Avenue next to The Shops at Atlas Park mall on land formerly owned by Hemmerdinger’s family.
It has 21 buildings with about 375,000 square feet of space. The company said the area is zoned for manufacturing, office space, self-storage and some retail use.
Current tenants at the terminals include CF Peters, an international music publisher; the ASPCA; Christopher Hyland, Inc., which sells high-end fabrics and home furnishings; and Unicorn Construction.
The Shops at Atlas Park opened in 2006. Its current owner, the Macerich real estate company, purchased the property in foreclosure proceedings in February. Last summer the already troubled mall sustained another blow when Borders, a national chain of bookstores, went bankrupt and closed its Atlas Park site.
Jack Friedman, executive director of the Queens Chamber of Commerce, did not read too much into the decision.
“It’s probably just a real estate deal,” Friedman said. “Maybe you can read that they feel that the real estate market is packing up and this is a good time to sell. The Hemmerdingers aren’t stupid people, and they’ve owned this land for decades. Plus it’s a tremendous piece of property that you can develop into almost anything.”