Pinnacle Realty Secures 350,000 SF in New Leases at Innovo Property Group's Long Island City Industrial Complex
Pinnacle Realty has secured 350,000 square feet of new industrial leases across four tenants at Innovo Property Group's Review Avenue Complex, a Class-A multi-story warehouse at 28-90 Review Avenue in Long Island City, Queens, the firms announced Sept. 9.
The four leases, signed in summer 2026 following the completion of construction, bring the 652,000-square-foot facility to roughly 54 percent leased. Pinnacle Realty serves as the exclusive leasing broker for the property.
About the Review Avenue Complex
The Review Avenue Complex sits on approximately 4.3 acres within Long Island City's emerging Borden Innovation District. The building features 32-foot clear heights, roughly 60,000-square-foot floor plates designed to accommodate two tenants per floor, on-site parking for 166 cars and 118 trailers, and EV-ready parking infrastructure. The multi-story configuration includes truck ramps, loading docks, and rooftop solar panels.
Innovo Property Group acquired the former one-story warehouse at the site in 2020 for $34.1 million. Construction on the current multi-story development began in spring 2024, with the building topping out in 2025 and reaching substantial completion in summer 2026.
The project was capitalized with a $354 million total financing package arranged by JLL, which included equity from Goldman Sachs Asset Management's Urban Investment Group and IPG, along with construction financing from Axos Bank and Cerberus Capital Management.
Leasing Activity and Market Context
The four new leases represent the first major lease-up at the Review Avenue Complex since its delivery, and come against a backdrop of constrained industrial supply across New York City. Decades of conversions to residential and office use have limited the availability of large-format logistics and manufacturing space within the five boroughs, making newly delivered Class-A industrial product in accessible Queens locations particularly sought after.
Long Island City's proximity to Manhattan and major transportation infrastructure, along with the ongoing development of the Borden Innovation District, have drawn attention from logistics and production tenants seeking urban last-mile and light-manufacturing options.
Pinnacle Realty's Role
Pinnacle Realty of New York is serving as the exclusive leasing broker for the Review Avenue Complex. The firm's leasing efforts at the property began in summer 2026 in conjunction with the building's construction completion.
About the Firms
Innovo Property Group is the sponsor and owner of the Review Avenue Complex. Pinnacle Realty is a New York-based commercial real estate brokerage serving as the property's exclusive leasing agent.
Sources
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