<a href="https://laohu8.com/S/TRNO">Terreno Realty</a> Corporation Acquires Queens Industrial Property for $31.1 Million, Plans Major Renovations
Terreno Realty Corporation, a prominent player in the industrial real estate sector, has recently acquired a significant property in Long Island City, Queens, New York, for approximately $31.1 million. The acquisition, completed on June 30, 2025, involves an industrial distribution building spanning 48,000 square feet on 2.2 acres, strategically located at 49-10 27th Street near the Queens-Midtown Tunnel. Currently vacant, the property is set for substantial renovations by Terreno Realty, including upgrades to truck loading configurations, office and warehouse spaces, and exterior lighting, with potential roof modifications. The total investment is projected to reach $40.2 million, with renovations expected to be completed in 2026. The estimated stabilized cap rate for the property is 5.5%. Terreno Realty Corporation continues to expand its footprint across major coastal U.S. markets, including New York City, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Terreno Realty Corporation published the original content used to generate this news brief via Business Wire (Ref. ID: 20250630016784) on July 01, 2025, and is solely responsible for the information contained therein.
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