Commercial Property Executive’s October 26 transaction roundup reports that Terreno Realty acquired a vacant industrial distribution building at 43-22 55th Avenue in Maspeth, Queens, for $13.9M. The building is approximately 29,000 square feet on 1.4 acres.
Using those approximate figures, the whole-property price is about $479 per building square foot and $9.9M per acre (derived). The latter is not a separate land valuation. Gross building area also does not establish the building footprint or site coverage.
The roundup does not identify the seller, financing, rent history or capital plan. Vacancy means the reported sale price cannot be evaluated using an in-place rental yield from this source.
Our read: test lease-up assumptions, required rents, building condition and truck access before drawing a return conclusion. A single trade does not establish a Queens-wide market price or prove that land scarcity caused this price.
Key Takeaways
- Terreno paid $13.9M for a vacant Queens distribution property. Derived price metrics use approximate building and site areas.
- No isolated land value, site coverage, cap rate or lease-up return can be established from the reported information.
Commercial Property Executive — October 26, 2026 · https://www.commercialsearch.com/news/recent-cre-northeast-midatlantic-transactions/ · Verified CPE roundup support: TerrenoRealty acquired vacant distributionbuilding at43-22 55thAvenue,MaspethQueens,$13.9M,approximately29000SF,1.4acres. Seller/financing/rents/plan notidentified in this entry. Derived13.9M/29000≈479.31perSF and13.9M/1.4≈9.93Mperacre are whole-property ratios,notlandvalue. No footprint/coverage inference. Our read is labelled analysis.
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