{"id":1004788863,"date":"2026-02-20T03:49:49","date_gmt":"2026-02-20T11:49:49","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004788863"},"modified":"2026-02-20T06:24:08","modified_gmt":"2026-02-20T14:24:08","slug":"terreno-buys-nyc-industrial-asset-for-92m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/terreno-buys-nyc-industrial-asset-for-92m\/","title":{"rendered":"Terreno Buys NYC Industrial Asset for $92M"},"content":{"rendered":"\n

Terreno Realty Corp. has expanded its New York\/New Jersey industrial portfolio with the acquisition of College Point Logistics Center in Queens, N.Y., for $92 million. Wildflower Ltd. previously owned the property, according to Yardi Matrix information.<\/p>\n\n\n

\n
\"Exterior<\/a>
Wildflower developed College Point Logistics Center in Queens, N.Y. Image courtesy of Walker & Dunlop<\/em><\/figcaption><\/figure><\/div>\n\n\n

The three-story building at 28-10 Whitestone Expressway has nearly 81,000 square feet of warehouse space on the ground floor and 159,656 square feet of structured parking on levels two and three.<\/p>\n\n\n\n

Wildflower and joint venture partner Drake Real Estate Partners broke ground on the project in 2022. The following year, the duo received a $94 million loan<\/a> arranged by Walker & Dunlop for the $146 million development. The property was shell-complete by fall 2024.<\/p>\n\n\n\n

Terreno intends to build out the shell, adding interior finishes and an 8,000-square-foot office, for a total investment of $103.4 million. The work is expected to be completed in early 2027.<\/p>\n\n\n\n

Developed on leased land<\/h2>\n\n\n\n

Despite having developed the facility in the early 2020s, Wildflower came into possession of the 4-acre site only later. Adam Gordon, managing partner of Manhattan-based firm, acquired the property in February 2025 for $35.8 million from The New York Times<\/em>, which operates a printing plant on an adjacent site. The newspaper giant had owned the site for decades before selling it to Gordon.<\/p>\n\n\n\n

Crain\u2019s New York Business<\/em> reported Gordon leased the property for about three years prior to the purchase, with plans to develop the industrial facility, ideally for an e-commerce user. Gordon is an active Amazon warehouse developer in the New York City area, according to the Commercial Observer.<\/em><\/p>\n\n\n\n

Wildflower owns and operates several other industrial assets in the New York City and Long Island, N.Y., area. Properties include the 422,398-square-foot JFK Logistics Center<\/a>, also in Queens, and the 193,800-square-foot Brooklyn Logistics Center in Brooklyn.<\/p>\n\n\n\n

Closer look at College Point Logistics Center<\/h2>\n\n\n\n

The cross-dock distribution building has a 36-foot clear height, 13 dock-high doors, three grade-level loading positions and parking for 226 vehicles. Situated along the Whitestone Expressway, the property is approximately 1 mile from the Van Wyck Expressway and Grand Central Parkway and 3 miles east of LaGuardia Airport.<\/p>\n\n\n\n

It is less than 11 miles from JFK International Airport, about 3 miles from Interstate 495 and just over 5 miles from Interstate 287. More than 15 million consumers can be reached within 1 hour from the site.<\/p>\n\n\n\n

Terreno’s growing portfolio<\/h2>\n\n\n\n

Terreno acquires, owns and operates industrial real estate in six major coastal U.S. markets: New York\/New Jersey, Miami, Los Angeles, the San Francisco Bay Area, Los Angeles and Washington, D.C. The firm\u2019s portfolio totaled 19.8 million square feet across 309 buildings as of Dec. 31.<\/p>\n\n\n\n

In September, Terreno acquired a three-building, 509,000-square-foot portfolio of distribution properties in Kearny, N.J., and Doral, Fla<\/a>., for an aggregate price of approximately $194 million. The purchase completed a multi-market portfolio deal involving about 1.2 million square feet that traded for a combined $426.9 million.<\/p>\n\n\n\n

The firm had acquired the Woodinville, Wash., portion of the portfolio<\/a> in August for $232.6 million. The six Seattle-area buildings were a mix of flex\/industrial and manufacturing assets that were about 91 percent leased at the time of sale.<\/p>\n","protected":false},"excerpt":{"rendered":"

The firm’s total investment in the property will reach $103 million.<\/p>\n","protected":false},"author":1068,"featured_media":1004788871,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,1600,21742,10],"tags":[33863,44213],"class_list":["post-1004788863","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-new-york","category-latest","category-northeast","tag-terreno-realty-corporation","tag-walker-dunlop"],"acf":[],"yoast_head":"\nTerreno Buys NYC Industrial Asset for $92M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Terreno Realty Corp. has acquired College Point Logistics Center, a distribution facility in Queens, N.Y., from Wildflower Ltd.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/terreno-buys-nyc-industrial-asset-for-92m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Terreno Buys NYC Industrial Asset for $92M\" \/>\n<meta property=\"og:description\" content=\"Terreno Realty Corp. has acquired College Point Logistics Center, a distribution facility in Queens, N.Y., from Wildflower Ltd.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/terreno-buys-nyc-industrial-asset-for-92m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2026-02-20T11:49:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-02-20T14:24:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/02\/College-Point-Logistics-Center.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/terreno-buys-nyc-industrial-asset-for-92m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/terreno-buys-nyc-industrial-asset-for-92m\/\",\"name\":\"Terreno Buys NYC Industrial Asset for $92M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/terreno-buys-nyc-industrial-asset-for-92m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/terreno-buys-nyc-industrial-asset-for-92m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/02\/College-Point-Logistics-Center.jpg\",\"datePublished\":\"2026-02-20T11:49:49+00:00\",\"dateModified\":\"2026-02-20T14:24:08+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\"},\"description\":\"Terreno Realty Corp. has acquired College Point Logistics Center, a distribution facility in Queens, N.Y., from Wildflower Ltd.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/terreno-buys-nyc-industrial-asset-for-92m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/terreno-buys-nyc-industrial-asset-for-92m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/terreno-buys-nyc-industrial-asset-for-92m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/02\/College-Point-Logistics-Center.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/02\/College-Point-Logistics-Center.jpg\",\"width\":900,\"height\":675,\"caption\":\"Wildflower developed College Point Logistics Center in Queens, N.Y. 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