Terreno Realty Corporation Acquires Property in Queens, NY for $50.1 Million
Terreno Realty (NYSE:TRNO) has acquired an industrial property in Maspeth Queens, New York for $50.1 million. The property includes a 33,000-square-foot industrial transshipment building on 2.6 acres. Located at 49-15 Maspeth Avenue, near major highways I-278 and I-495, the facility features 40 dock-high and 4 grade-level loading positions, 50 trailer positions, and parking for 31 cars.
The property is fully leased to a plumbing, heating, HVAC and industrial products distributor, with an estimated stabilized cap rate of 4.5%. This acquisition aligns with Terreno's strategy of owning industrial real estate in six major coastal U.S. markets.
Terreno Realty (NYSE:TRNO) ha acquisito un immobile industriale a Maspeth, Queens, New York, per 50,1 milioni di dollari. La proprietà comprende un edificio di transito industriale di 33.000 piedi quadrati su un terreno di 2,6 acri. Situato al 49-15 di Maspeth Avenue, vicino alle principali autostrade I-278 e I-495, la struttura dispone di 40 banchine di carico a livello e 4 posizioni di carico a livello della strada, 50 posti per rimorchi e parcheggio per 31 auto.
La proprietà è completamente affittata a un distributore di prodotti idraulici, di riscaldamento, HVAC e industriali, con un tasso di capitalizzazione stabilizzato stimato del 4,5%. Questa acquisizione si allinea con la strategia di Terreno di possedere immobili industriali in sei importanti mercati costieri degli Stati Uniti.
Terreno Realty (NYSE:TRNO) ha adquirido una propiedad industrial en Maspeth, Queens, Nueva York, por 50.1 millones de dólares. La propiedad incluye un edificio de transbordo industrial de 33,000 pies cuadrados en 2.6 acres. Ubicado en 49-15 Maspeth Avenue, cerca de las principales autopistas I-278 e I-495, la instalación cuenta con 40 posiciones de carga a nivel de muelle y 4 posiciones de carga a nivel de la calle, 50 posiciones para remolques y estacionamiento para 31 automóviles.
La propiedad está completamente arrendada a un distribuidor de productos de plomería, calefacción, HVAC e industriales, con una tasa de capitalización estabilizada estimada del 4.5%. Esta adquisición se alinea con la estrategia de Terreno de poseer bienes raíces industriales en seis importantes mercados costeros de EE. UU.
Terreno Realty (NYSE:TRNO)는 뉴욕 퀸스의 마스페스에서 5천만 1천 달러에 산업 부동산을 인수했습니다. 이 부동산에는 2.6에이커에 걸쳐 33,000 평방피트의 산업 전환 건물이 포함되어 있습니다. I-278 및 I-495 주요 고속도로 근처인 49-15 Maspeth Avenue에 위치하며, 시설에는 40개의 도크 하이 로딩 위치와 4개의 일반 레벨 로딩 위치, 50개의 트레일러 위치 및 31대의 자동차 주차 공간이 있습니다.
이 부동산은 완전히 임대되어 있으며, 배관, 난방, HVAC 및 산업 제품 유통업체와 계약되어 있으며, 안정화된 자본화율은 4.5%로 예상됩니다. 이 인수는 Terreno의 미국의 6개 주요 해안 시장에서 산업 부동산을 소유하는 전략에 부합합니다.
Terreno Realty (NYSE:TRNO) a acquis une propriété industrielle à Maspeth, Queens, New York, pour 50,1 millions de dollars. La propriété comprend un bâtiment de transbordement industriel de 33 000 pieds carrés sur 2,6 acres. Située au 49-15 Maspeth Avenue, près des autoroutes principales I-278 et I-495, l'installation dispose de 40 quais de chargement et de 4 postes de chargement à niveau du sol, ainsi que de 50 emplacements de remorque et d'un stationnement pour 31 voitures.
La propriété est entièrement louée à un distributeur de produits de plomberie, de chauffage, de CVC et de produits industriels, avec un taux de capitalisation stabilisé estimé à 4,5 %. Cette acquisition s'inscrit dans la stratégie de Terreno de posséder des biens immobiliers industriels dans six grands marchés côtiers des États-Unis.
Terreno Realty (NYSE:TRNO) hat eine Industrieimmobilie in Maspeth, Queens, New York, für 50,1 Millionen Dollar erworben. Die Immobilie umfasst ein 33.000 Quadratfuß großes Industrieumschlaggebäude auf 2,6 Acres. Sie befindet sich in der 49-15 Maspeth Avenue, in der Nähe der Hauptautobahnen I-278 und I-495, und verfügt über 40 überladbare und 4 ebenerdige Ladepositionen, 50 Trailerpositionen sowie Parkplätze für 31 Autos.
Die Immobilie ist vollständig an einen Distributor für Sanitär, Heizung, HVAC und Industrieprodukte vermietet, mit einer geschätzten stabilisierten Kapitalrendite von 4,5%. Diese Akquisition steht im Einklang mit Terrenos Strategie, Industrieimmobilien in sechs wichtigen Küstenmärkten der USA zu besitzen.
- 100% occupancy with established tenant
- Strategic location near major highways in Queens, NY
- Property includes significant loading and parking capacity
- Expansion in key coastal market
- Relatively low cap rate of 4.5% indicates lower immediate return on investment
- Significant capital deployment of $50.1M in single asset
Insights
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The property's specifications are particularly valuable in this market: 33,000 square feet with 44 loading positions and 50 trailer positions on 2.6 acres represents an efficient use of space for urban logistics. The 100% occupancy by a HVAC/plumbing distributor provides stable cash flow and these types of tenants typically sign longer-term leases due to their heavy investment in distribution infrastructure.
The facility's design features are exceptionally well-suited for urban logistics operations. The ratio of loading positions (40 dock-high and 4 grade-level) to building size is remarkably high, enabling rapid cargo throughput essential for serving New York City's time-sensitive market. The 50 additional trailer positions are particularly valuable in space-constrained Queens, offering important staging area flexibility that many competing properties lack.
The 2.6-acre site in this location is a rare find - most industrial properties in Queens are significantly smaller or have less efficient layouts. This property's configuration maximizes operational efficiency while maintaining adequate car parking (31 spaces) for workforce needs. The site's proximity to both I-278 and I-495 provides critical access to Brooklyn, Manhattan and Long Island markets, essential for distribution operations in the NYC metro area.
The property consists of one industrial transshipment building containing approximately 33,000 square feet on 2.6 acres. The property is at 49-15 Maspeth Avenue, less than one mile from the intersection of I-278 (Brooklyn-Queens Expressway) and I-495 (Queens Midtown/Long Island Expressway), provides 40 dock-high and four grade-level loading positions, 50 additional trailer positions and parking for 31 cars. The property is
Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally
Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal
Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.
Forward-Looking Statements
This 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’s beliefs and on assumptions made by, and information currently available to, management. When used, the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “result,” “should,” “will,” “seek,” “target,” “see,” “likely,” “position,” “opportunity,” “outlook,” “potential,” “enthusiastic,” “future” 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241223398308/en/
Jaime Cannon
415-655-4580
Source: Terreno Realty Corporation
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