Terreno Realty (TRNO) said Friday that it has purchased an industrial property in Long Island City Queens, New York for $7.6 million.
The asset features a single industrial distribution building with around 20,000 square feet, the company said, adding that it is fully leased to a commercial bakery and kitchen until December 2027, with an estimated stabilized capitalization rate of 4.6%.
Price: 56.55, Change: -0.47, Percent Change: -0.82
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