JLL was selected by Terreno Realty Corp. as exclusive leasing agent and property manager for the four-building JFK Airgate Center in Queens, N.Y.
The firm will provide a full range of property management and transaction services at the 229,261-square-foot complex, which comprises three warehouses and one commercial office building.
The JLL team handling the new agency leasing assignment will be led by Reid Berch, senior vice president, and Joe Lagano, associate. Property management services will be led by Angela Alfano, vice president, supported by Kathryn Donlon, assistant general manager.
“JFK Airgate Center is less than a quarter-mile from John F. Kennedy International Airport and offers direct access to three of the major airport entrances,” said Berch. “The center’s superior location and top-notch facilities made this property an ideal investment for Terreno Realty.”
“This new property management assignment expands our already strong relationship with Terreno Realty,” said Linda Aronson, managing director and head of property management for JLL’s suburban tri-state markets. “With the addition of the JFK Airgate Center, we manage more than 1.5 million square feet of commercial office and industrial real estate for the company in the tri-state area.”
JLL provides property management services for Terreno Realty at four properties, totaling 1.3 million square feet, in New Jersey.
Terreno Realtypaid $53 million to buy JFK Airgate Center from Prologis Inc In January. The mixed-use complex includes three warehouses, the 65,000 s/f Airgate 1, located at 151-02 132nd Avenue; the 66,000 s/f Airgate II, located at 150-10 132nd Avenue; and the 73,000 s/f Airgate III, located at 151-16 132nd Avenue, along with a commercial office building, the 25,000 s/f Airgate IV, located at 150-30 132nd Avenue.
JFK Airgate Center is located approximately one-quarter mile north of John F. Kennedy International Airport, and is adjacent to Rockaway Boulevard, the Belt Parkway and the Van Wyck Expressway. It is approximately 98.6 percent leased to 18 tenants, including some of the largest international air cargo and logistics firms in the country.
JLL is a leader in the New York tri-state commercial real estate market, with more than 1,600 of the most recognized industry experts offering brokerage, capital markets, property/facilities management, consulting, and project and development services. In 2013, the New York tri-state team completed approximately 25.9 million square feet in lease transactions, arranged capital markets transactions valued at $2.1 billion, managed projects valued at nearly $7.0 billion, and oversaw a property and facilities management portfolio of 95.3 million square feet and an agency leasing portfolio of 67.0 million square feet.