Terreno Realty Corporation<\/a> has signed a full-property lease with a leading e-commerce company for an 81,000-square-foot industrial property in College Point, Queens, reinforcing demand for well-located logistics facilities in the New York City market.<\/p>\nThe lease, which commenced July 24, 2026, covers the entire property, including two additional floors of indoor parking situated on a 4.0-acre site. The initial lease term runs through July 2029 and includes one 10-year renewal option followed by three additional five-year renewal options. During the initial three-year term, the tenant has the right to terminate the lease under certain circumstances with six months\u2019 notice.<\/p>\n
Terreno expects to invest approximately $98.8 million in the property and projects a stabilized capitalization rate of 6.4% upon reaching stabilized operations. The company calculates stabilized cap rates by dividing annualized cash-basis net operating income at an assumed 95% occupancy by total acquisition costs, which include the purchase price, financing adjustments, transaction expenses, capital improvements, and leasing costs.<\/p>\n
The transaction highlights continued demand for strategically located industrial real estate serving last-mile distribution and e-commerce operations in the New York metropolitan area. College Point offers access to one of the nation\u2019s largest consumer markets, making it an attractive location for companies seeking to improve delivery times and distribution efficiency.<\/p>\n
Terreno Realty focuses on acquiring, owning, and operating industrial properties in six major coastal U.S. markets: New York City and Northern New Jersey, Los Angeles, Miami, the San Francisco Bay Area, Seattle, and Washington, D.C. The company continues to invest in infill logistics assets that benefit from limited new supply, strong transportation access, and long-term demand driven by e-commerce and supply chain modernization.<\/p>\n","protected":false},"excerpt":{"rendered":"Terreno Realty Corporation has signed a full-property lease with a leading e-commerce company for an 81,000-square-foot industrial property…\n","protected":false},"author":2,"featured_media":306582,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[9,24,63,122,124,123],"class_list":["post-306581","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"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/306581","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=306581"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/306581\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/306582"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=306581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=306581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=306581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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