Terreno Realty Corp., which owns, operates and acquires industrial properties, is under contract to buy watchmaking brand Bulova's former headquarters in Queens, N.Y., Crain's New York Business reported.
The sale price was not immediately clear, although brokerage firm Eastern Consolidated, which marketed the asset and arranged the sale, had listed an asking price of $30 million in its sales literature, the report noted.
The 150,000-square-foot property at 26-15 Brooklyn-Queens Expressway, which comprises a warehouse and office space, has been occupied by Bulova since 1986 and bought it in 2008, the Feb. 6 report noted, citing property records. The site also has 60,000 square feet of unused development rights.
Bulova moved its executive offices to the Empire State Building in Manhattan, N.Y., in 2014.
