Family Stations Inc. is selling the five acre tower site of “Family Radio” 1560 WFME New York to logistics real estate operator Prologis for $51 million.
Commercial Observer reports that Prologis will utilize the land for parking and storage explaining that industrial site operators are looking for more space for last-mile logistics. The land in Maspeth, Queens is located in the middle of an industrial park. As part of the sale, Family Radio will continue to operate WFME’s 50kW signal from the three tower array until they relocate to a new facility.
Family Stations acquired 1560 and the tower land from Radio Disney in 2015 for $12.9 million to return their programming to the market following the 2013 sale of 94.7 WFME Newark NJ to Cumulus for $40 million and 106.3 Mount Kisco NY. Disney had purchased the station in 2007 from The New York Times Company for $40 million after leasing the signal for nine years.
