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Elon Musk's Tesla Signs Lease For 150000 Square Foot Industrial Property In College Point Queens

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LEASED

New York

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Industrial150,000 SF
Leased 10/24/2024
the dealdetailscomps
Property Image
LEASED

Elon Musk's Tesla Signs Lease For 150000 Square Foot Industrial Property In College Point Queens

30-02 Whitestone Expressway

See Similar Deals
Industrial150,000 SF
Leased 10/24/2024
the dealdetailscomps

Summary

NEW YORK
Asset Type:Industrial
Price Per Square Foot:$0
Total Square Footage:150,000 SF
Transaction Type:Lease

The lease involves a 150,000-square-foot industrial property located at 30-02 Whitestone Expressway, College Point, Queens. The property was previously occupied by shuttered retail chains. The landlord, Triangle Equities, has chosen to undertake renovations to the property instead of demolition, planning to create a two-story facility that will include 775 parking spaces.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Address: 30-02 Whitestone Expressway
  • Market: College Point, Queens
  • Landlord: Lester Petracca - Triangle Equities
  • Tenant: Elon Musk - Tesla
  • Tenant's Representatives: Brett Weinblatt & Ralph Hanan - Compass

The deal features Elon Musk's Tesla as the tenant, marking a significant lease agreement. The representatives for Tesla, Brett Weinblatt and Ralph Hanan from Compass, facilitated the transaction, ensuring that the lease was set to meet Tesla's operational requirements.

Details

LEASED
IMAGE: Elon Musk & Lester Petracca DATE: 10/24/2024 ADDRESS: 30-02 Whitestone Expressway MARKET: College Point, Queens ASSET TYPE: Industrial ~ SF: 150,000 LANDLORD: Lester Petracca - Triangle Equities TENANT: Elon Musk - Tesla (@TeslaMotors) TENANT'S REP: Brett Weinblatt (@Blatt82) & Ralph Hanan - Compass (@Compass) NOTE: Elon Musk's Tesla has signed a lease for a 150,000-square-foot industrial property in College Point, Queens, previously occupied by shuttered retail chains. Triangle Equities, the landlord, opted for renovations over demolition after securing Tesla as a tenant, with plans for a two-story facility featuring 775 parking spaces.

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Total Lease Value

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Net Landlord Cash Flow$8,597,909.48