Business
Terreno Realty Corporation Leases Redevelopment in Queens, New York
BELLEVUE, Wash., December 29, 2025--Terreno Realty Corporation Leases Redevelopment in Queens, New York
About this update from Terreno Realty Corporation
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":410,"height":480,"url":"https://media.zenfs.com/en/business-wire.com/9dfa38e251b716ddf738bb2f777f02b0"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/RWJaPXGFF5G7EgCsSeTtSQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTgyNTtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/9dfa38e251b716ddf738bb2f777f02b0","width":410,"height":480}},"lazy":false},{"type":"text","content":"BELLEVUE, Wash., December 29, 2025--(BUSINESS WIRE)--Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, announced today a full-property lease for a redevelopment property in Long Island City, Queens, New York.","length":291,"tagName":"p"},{"type":"text","content":"The property consists of one industrial distribution building containing approximately 48,000 square feet on 2.2 acres. The property is at 49-10 27th Street, adjacent to the entrance to the Queens-Midtown Tunnel, and provides ten dock-high and 14 grade-level loading positions with a total investment of $35.8 million. The redeveloped property is 100% leased to a contractor and rigging provider commencing December 2025 and expiring August 2036. The estimated stabilized cap rate is 5.7%.","length":489,"tagName":"p"},{"type":"text","content":"Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer’s due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.","length":416,"tagName":"p"},{"type":"text","content":"Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: New York City/Northern New Jersey; Los Angeles; Miami; San Francisco Bay Area; Seattle; and Washington, D.C.","length":221,"tagName":"p"},{"type":"text","content":"Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.","length":114,"tagName":"p"},{"type":"text","content":"Forward-Looking Statements","length":26,"tagName":"p"...