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Terreno Realty Corporation Announces Lease in Queens, NY

TRNO
  • Terreno Realty Corporation executed a full-property lease with a leading e-commerce firm for 81,000 square feet of industrial space & two floors of indoor parking on 4.0 acres in College Point, Queens, New York.
  • The lease commenced on July 24, 2026, & expires in July 2029, with four renewal options: one ten-year term & three subsequent five-year terms.
  • The tenant may terminate the lease with six months notice during the initial three-year term under certain circumstances.
  • The total expected investment in the property is $98.8 million, with an estimated stabilized cap rate of 6.4%.
  • Terreno Realty Corporation acquires, owns, & 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, & Washington, D.C.