<a href="https://laohu8.com/S/TRNO">Terreno Realty</a> Corporation Acquires Industrial Property in Queens, NY for $16 Million
Terreno Realty Corporation has successfully acquired an industrial property in Long Island City, Queens, New York for approximately $16 million. The acquisition, completed on June 18, 2025, includes a 36,000-square-foot industrial distribution building situated on a one-acre site at 11-40 Borden Avenue. This strategic location is adjacent to the Queens-Midtown Tunnel and the Pulaski Bridge, enhancing logistic capabilities with its two dock-high and one van-level loading positions. The property is fully leased until May 2028 to an insulation distributor, with an estimated stabilized cap rate of 3.9%. Terreno Realty Corporation continues to expand its portfolio across major coastal U.S. markets, including New York City, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C.
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