{"id":143063,"date":"2026-02-23T20:04:22","date_gmt":"2026-02-23T20:04:22","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/143063\/"},"modified":"2026-02-23T20:04:22","modified_gmt":"2026-02-23T20:04:22","slug":"wildflower-flips-queens-warehouse-year-after-acquisition","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/143063\/","title":{"rendered":"Wildflower Flips Queens Warehouse Year After Acquisition"},"content":{"rendered":"

Wildflower sold a Queens warehouse for a hefty premium.\u00a0<\/p>\n

Adam Gordon\u2019s development firm sold the property at 28-10 Whitestone Expressway to Terreno Realty for $92 million, the Commercial Observer reported<\/a>. The sale comes 12 months after Wildflower acquired the property for $35 million.<\/p>\n

The property, a former distribution center for the New York Times, is being transformed into an e-commerce logistics center. It\u2019s unclear what the future of the site holds, however, as Wildflower had been redeveloping the site since 2022 and secured a $94 million construction loan the following year.\u00a0<\/p>\n

Wildflower and Terreno did not respond to the outlet\u2019s requests for comment.<\/p>\n

The 245,000-square-foot property is situated between the Whitestone Expressway and Flushing Bay. Cushman & Wakefield, which also did not respond to a request for comment, was running leasing at the property.<\/p>\n

Gordon has shown a propensity for selling industrial properties for significantly more than he paid for them. In 2022, Wildflower sold a roughly 3,300-unit self-storage facility it built at 3350 Park Avenue in the Morrisania section of the Bronx to Atlanta-based operator Storage Post for $65 million<\/a>; Wildflower bought the property in 2017 for $9 million.<\/p>\n

As for Terreno, the Washington-based real estate investment trust sold a fully leased industrial property in South Brunswick, New Jersey, in the fall for $144 million<\/a>. The REIT originally acquired the property at 130 Interstate Boulevard for $22.5 million in 2010, yielding a 13.4 percent unleveraged internal rate of return.\u00a0<\/p>\n

Elsewhere in Queens, Blackstone recently sold a warehouse near LaGuardia Airport for $86.7 million<\/a> to a fund managed by Morgan Stanley Real Estate Investing. The 117,000-square-foot facility, located at 83-15 24th Avenue, is fully occupied by FedEx, which has more than 17 years remaining on its lease.<\/p>\n

\u2014 Holden Walter-Warner<\/a><\/p>\n

\tRead more
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Adam Gordon\u2019s Wildflower sells Bronx self-storage building for $65M<\/p>\n

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\t\t\t\t\t\t\t\t\t\t\t\t\t\"Terreno\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

Terreno Realty offloads South Brunswick warehouse for $144M<\/p>\n

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\t\t\t\t\t\t\t\t\t\t\t\t\t\"Blackstone\t\t\t\t\t\t\t\t\t\t\t<\/p>\n

Blackstone sells Queens warehouse near LGA for $87M<\/p>\n

\t\t\t<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Wildflower sold a Queens warehouse for a hefty premium.\u00a0 Adam Gordon\u2019s development firm sold the property at 28-10…\n","protected":false},"author":2,"featured_media":143064,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[9,24,63,122,124,123,60078],"class_list":["post-143063","post","type-post","status-publish","format-standard","has-post-thumbnail","category-queens","tag-new-york","tag-new-york-city","tag-nyc","tag-queens","tag-queens-headlines","tag-queens-news","tag-wildflower-queens-warehouse"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/143063","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=143063"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/143063\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/143064"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=143063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=143063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=143063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}