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Terreno Realty Acquires Fully Leased Red Hook Industrial Site for $26.3 Million

Terreno Realty logoTerreno Realty
Sig2.67Sen+6.20Env0.00Soc0.00Gov0.00

Terreno Realty acquired a fully leased industrial distribution property at 659 Court Street in Brooklyn’s Red Hook for about $26.3 million. The 28,000-square-foot building sits on 1.5 acres with two grade-level loading positions and parking for 70 vehicles, expanding the firm’s NYC and Northern New Jersey portfolio. The company estimates a 5.2% stabilized cap rate.

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