Acquisition · Red Hook

659 Court Street trades for $26.25M

Terreno Realty bought the fully leased, roughly 28,000-square-foot Red Hook industrial building, which is occupied by a maritime goods and services provider, from California-based LBA Properties.

Street-level view near 659 Court Street, Brooklyn, NY
Nearby streetscape
Amount
$26.25M
Type
Acquisition
Date
Aug. 2026

659 Court Street, Brooklyn, NY

Recorded in NYC property records.

Buyer
Terreno Realty Corporation
Seller
LBA Properties
The Deal at a Glance
  • Terreno says the building is 100% leased to a maritime goods and services provider.
  • The site has about 28,000 square feet on 1.5 acres, per Terreno.
  • Terreno estimates a stabilized cap rate of 5.2%.
  • Commercial Observer reports 145,800 square feet of buildable space including air rights.

Overview

Terreno Realty Corporation acquired the industrial property at 659 Court Street in Red Hook on August 13, 2026, for approximately $26.3 million, according to the company's press release. Commercial Observer reported the seller as California-based LBA Properties. City records show the deed was recorded on August 19, 2026, from 659 Court Street, LLC to Terreno Court Street LLC, at $26,250,000.

The property is a roughly 28,000-square-foot industrial distribution building on 1.5 acres, with two grade-level loading positions and parking for 70 cars, according to Terreno. It is 100% leased to a maritime goods and services provider. Commercial Observer reported the site offers 145,800 square feet of buildable space with the addition of air rights, and that Buckeye Partners acquired it in 2013 for $15.5 million.

Terreno said the estimated stabilized cap rate is 5.2%. The company describes itself as an owner and operator of industrial real estate in six major coastal U.S. markets. Terreno did not name the seller or any brokers in its release.

The purchase adds a fully leased, waterfront industrial asset in Red Hook to a buyer focused on coastal industrial markets. The reported buildable area beyond the existing warehouse points to potential value beyond the current use.

Parties Involved 2 recorded

Editorial monogram for Terreno Realty Corporation — not an official logo.TR
Buyer
Terreno Realty Corporation
Named in the record; no Hush Street entity profile yet.
Basis

Terreno press release announces it acquired the property; ACRIS lists Terreno Court Street LLC as grantee.

Editorial monogram for LBA Properties — not an official logo.LP
Seller
LBA Properties
Named in the record; no Hush Street entity profile yet.
Basis

Commercial Observer reports the purchase was from California-based LBA Properties.

Counts and combined values are computed from Hush Street’s own published Deal records only. “Combined” is the total value of the transactions a party appears on, not capital deployed by that party, and two parties on the same transaction each reflect its full amount. Not a career or market total.

Marks shown are Hush Street editorial monograms, generated from each party’s recorded name — not official company logos.

Property & Project

Address659 Court Street, Brooklyn, NY
NeighborhoodRed Hook
Property TypeIndustrial
Sources & Recordsverification, citations & data notes
Verification
Verified — Primary Source
Sources
  1. Terreno Realty Corporation Acquires Property in Brooklyn, NY for $26.3 Million — Terreno Realty Corporation
  2. Terreno Realty acquires 659 Court Street in Red Hook — Commercial Observer
  3. ACRIS deed 2026081400269001 — NYC Department of Finance
Amount
Terreno reported a purchase price of approximately $26.3 million; the recorded deed amount is $26,250,000.