Greek Products Importer Takes Big Fat Lease at Long Island City Warehouse
By Isabelle Durso July 25, 2024 11:42 am
reprints
Terra Medi, an importer of Greek gourmet products, has signed a 10,000-square-foot lease at Schuman Properties’ 37-20 Skillman Avenue in Long Island City, Queens.
The company signed a seven-year lease with an asking rent of $30 per square foot for part of the Skillman Avenue warehouse, according to Pinnacle Realty of New York’s Brendan Burke, who brokered both sides of the deal along with Paul Bralower.
Terra chose the warehouse because of its high ceilings and interior dock that could accommodate trailers, which is “a hard thing to find in this size range,” Burke told Commercial Observer.
“This vibrant location will undoubtedly serve as a cornerstone for future success,” Pinnacle wrote in a social media post announcing the lease.
A spokesperson for Terra did not respond to a request for comment. Schuman declined to comment.
Several other distribution businesses have recently moved to Long Island City. Mitchell’s NY, a family-owned publication delivery business, moved to Time Equities’ 47-11 and 47-51 Austell Place near Skillman Avenue in 2014; and film and television prop rental company propNspoon headed to 32-00 Skillman Avenue in 2013.
And others have hopped in on the industrial trend. Innovo Property Group announced plans last year to develop a five-story warehouse and movie studio facility along the train yards in Long Island City, while Titan Contracting offloaded a warehouse at 42-11 Ninth Street to Terreno Realty for $23 million.
Isabelle Durso can be reached at idurso@commercialobserver.com.
