Terreno Realty Corporation has acquired the former New York Times distribution center in the College Point neighborhood of Queens, New York, for approximately $92 million. The industrial property was purchased from Wildflower, which had acquired the asset about a year earlier, according to published reports.
Terreno Realty focuses on acquiring, owning and operating industrial real estate across six major coastal U.S. markets. The purchase of the former distribution facility in College Point adds to its New York-area portfolio and reflects continued investor interest in last-mile and logistics-oriented industrial assets in dense urban locations.
The transaction price represents more than double what Wildflower reportedly paid to acquire the property roughly a year ago. While specific details on the building’s size, tenancy, and current occupancy were not disclosed, the significant increase in valuation over a short hold period underscores the strength of investor demand for well-located industrial properties in supply-constrained coastal markets.
Information on any existing or planned leases, redevelopment strategies, or financing associated with the acquisition was not provided. The deal was reported as an outright acquisition, with no additional partners, lenders, or anchor tenants identified in the available information.
Terreno’s acquisition activity is closely watched by industrial investors and lenders, as the company remains active in key coastal markets where land and functional industrial space are limited. This latest purchase in Queens highlights ongoing capital flows into infill industrial locations that can serve e-commerce, media, and distribution users across the broader New York City region.
