Terreno Realty (TRNO) said Tuesday that it has acquired an industrial property in Queens, New York for approximately $50.1 million.

The company said the property, which was acquired Friday, includes a 33,000 square foot industrial transshipment building, as well as 40 dock-high and four grade-level loading positions, 50 trailer positions, and parking for 31 cars.

Terreno said the property is 100% leased to a plumbing, heating, HVAC and industrial products distributor, with an estimated stabilized cap rate of 4.5%.

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