Terreno Realty Corp., an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property located in College Point, Queens, N.Y., on Feb. 18, for a purchase price of approximately $92 million.
The property consists of a cross-dock industrial distribution building totaling approximately 81,000 square feet, with an additional two floors of indoor parking on four acres. The property is at 28-10 Whitestone Expressway, adjacent to the Whitestone Expressway, approximately one mile from the Van Wyck Expressway and Grand Central Parkway and approximately three miles east of LaGuardia airport. The property provides 13 dock-high and three grade-level loading positions and parking for 226 cars. The building is shell complete only. Terreno Realty Corp. will permit and construct interior finishes, including approximately 8,000 square feet of office, expected to be completed in early 2027. The total expected investment is $103.4 mill
