Terreno Realty acquired an industrial property located in East Williamsburg, Brooklyn, New York on March 22, 2024 for a purchase price of approximately $12M. The property consists of one industrial distribution building containing approximately 24,000 square feet on 0.7 acres. The property is at 181 Lombardy Street adjacent to the Brooklyn-Queens Expressway, provides one dock-high and one grade-level loading position and parking for 10 cars. The property is vacant and the estimated stabilized cap rate is 5.7%.
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