{"id":793095,"date":"2024-12-06T09:18:02","date_gmt":"2024-12-06T14:18:02","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/terreno-realty-corporation-acquires-property-in-long-island-city-queens-ny-for-7-6-million\/"},"modified":"2024-12-06T09:18:02","modified_gmt":"2024-12-06T14:18:02","slug":"terreno-realty-corporation-acquires-property-in-long-island-city-queens-ny-for-7-6-million","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/terreno-realty-corporation-acquires-property-in-long-island-city-queens-ny-for-7-6-million\/","title":{"rendered":"Terreno Realty Corporation Acquires Property in Long Island City Queens, NY for $7.6 Million"},"content":{"rendered":"

<\/p>\n

\nTerreno Realty Corporation Acquires Property in Long Island City Queens, NY for $7.6 Million<\/p>\n

BELLEVUE, Wash.–(BUSINESS WIRE<\/a>)–Terreno Realty Corporation<\/b> (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property located in Long Island City Queens, New York on December 5, 2024 for a purchase price of approximately $7.6 million.<\/p>\n

\nThe property consists of one industrial distribution building containing approximately 17,000 square feet on 0.4 acres. The property is at 48-29 31st Place, adjacent to I-495 (Queens Midtown\/Long Island Expressway) approximately one mile from the Queens Midtown Tunnel, provides one dock-high, one van-level and one grade-level loading positions and parking for seven cars. The property is vacant and the estimated stabilized cap rate is 5.7%.<\/p>\n

\nEstimated 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\u2019s due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.<\/p>\n

\nTerreno 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.<\/p>\n

\nAdditional information about Terreno Realty Corporation is available on the company\u2019s web site at www.terreno.com<\/a>.<\/p>\n

\nForward-Looking Statements<\/p>\n

\nThis press release contains forward-looking statements within the meaning of the federal securities laws. We caution investors that forward-looking statements are based on management\u2019s beliefs and on assumptions made by, and information currently available to, management. When used, the words \u201canticipate,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201cmay,\u201d \u201cmight,\u201d \u201cplan,\u201d \u201cproject,\u201d \u201cresult,\u201d \u201cshould,\u201d \u201cwill,\u201d \u201cseek,\u201d \u201ctarget,\u201d \u201csee,\u201d \u201clikely,\u201d \u201cposition,\u201d \u201copportunity,\u201d \u201coutlook,\u201d \u201cpotential,\u201d \u201centhusiastic,\u201d \u201cfuture\u201d and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control, including risks related to our ability to meet our estimated forecasts related to stabilized cap rates, and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2023 and our other public filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Accordingly, investors should use caution in relying on past forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20241203208121\/en\/<\/a><\/span><\/p>\n

\nJaime Cannon
\n
415-655-4580<\/p>\n

KEYWORDS:<\/b> United States North America Washington New York<\/p>\n

INDUSTRY KEYWORDS:<\/b> Commercial Building & Real Estate Construction & Property REIT<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
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Terreno Realty Corporation Acquires Property in Long Island City Queens, NY for $7.6 Million BELLEVUE, Wash.–(BUSINESS WIRE)–Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property located in Long Island City Queens, New York on December 5, 2024 for a purchase price of approximately $7.6 million. The property consists of one industrial distribution building containing approximately 17,000 square feet on 0.4 acres. The property is at 48-29 31st Place, adjacent to I-495 (Queens Midtown\/Long Island Expressway) approximately one mile from the Queens Midtown Tunnel, provides one dock-high, one van-level and one grade-level loading positions and parking for seven cars. The property is vacant and the estimated stabilized … <\/p>\n

Continue reading “Terreno Realty Corporation Acquires Property in Long Island City Queens, NY for $7.6 Million”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-793095","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nTerreno Realty Corporation Acquires Property in Long Island City Queens, NY for $7.6 Million - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/terreno-realty-corporation-acquires-property-in-long-island-city-queens-ny-for-7-6-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Terreno Realty Corporation Acquires Property in Long Island City Queens, NY for $7.6 Million - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Terreno Realty Corporation Acquires Property in Long Island City Queens, NY for $7.6 Million BELLEVUE, Wash.–(BUSINESS WIRE)–Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property located in Long Island City Queens, New York on December 5, 2024 for a purchase price of approximately $7.6 million. The property consists of one industrial distribution building containing approximately 17,000 square feet on 0.4 acres. The property is at 48-29 31st Place, adjacent to I-495 (Queens Midtown\/Long Island Expressway) approximately one mile from the Queens Midtown Tunnel, provides one dock-high, one van-level and one grade-level loading positions and parking for seven cars. 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