Triangle Equities receives $1m grant from Empire State Development for Terminal Logistics Center - 413,936 s/f

Queens, NY Triangle Equities has announced that it has been awarded a $1 million grant from Empire State Development in recognition of Terminal Logistics Center, a class A, 413,936 s/f, five-story vertical warehouse facility located at 130-02 South Conduit Ave. in Jamaica, along with the project’s job creation and community impact efforts.

Empire State Development awarded Triangle Equities’ Terminal Logistics Center due to the project’s positive impact on the community, job creation, and Triangle Equities’ flexibility in considering community needs throughout the project’s development. 

The facility is divided into two units, the first of which is a warehouse used for air cargo currently being leased by DO & CO, an international airline caterer, featuring two stories of truck courts connected by a ramp. The second unit is comprised of part of the cellar as well as the third through fifth floors, and is currently occupied by Safeguard, a self-storage facility.

Prior to its redevelopment, the site was home to one of JFK International Airport’s satellite parking lots, employing approximately five full-time employees. To date, Terminal Logistics has created 900 jobs for Queens County, contributing to a 59-month low in the county-wide unemployment rate as of February 2025, and directing more than $10.8 million to M/WBE contractors. The project’s air cargo infrastructure is essential to JFK International Airport’s global competitive advantage, answering the call to a rapidly increasing need for fast and reliable logistics, further alleviating supply chain pressures, and generating approximately $29 million of output growth annually.

Empire State Development president, CEO and commissioner Hope Knight said, “Terminal Logistics Center is a model of smart, community-driven development—transforming an underutilized site into a hub of economic opportunity and innovation. Empire State Development is proud to support a project that not only strengthens New York’s logistics infrastructure, but also creates good jobs, uplifts local businesses, and delivers tangible, long-term benefits for Queens and the regional economy.”

NYCREDC co-chairs Félix Matos Rodríguez, City University of New York chancellor and William Rahm, CEO of Everview Partners, said, “Terminal Logistics Center represents the kind of forward-looking investment that strengthens critical infrastructure while supporting long-term regional growth. By reimagining how industrial space can serve both economic and community needs, this project helps position Queens—and New York State—for continued leadership in logistics and global commerce.”

“Triangle Equities is incredibly proud to have developed Terminal Logistics Center in Queens. As a third-generation firm founded and built in the borough, we have always sought to deliver projects with meaningful impacts to the Queens community, as well as the tri-state region at large,” said Evan Petracca, chief operating officer at Triangle Equities. “This grant from Empire State Development affirms our commitment to excellence in community-building and development. We are excited to continue our work to further add value and contribute to our great city.”

Terminal Logistics Center is located in a dense urban area, a rarity for facilities of this size and nature. Due to its location, Triangle Equities approached the development of the facility with innovative tactics, prioritizing the needs of the local community. To capitalize on the building’s relatively small footprint, Triangle Equities worked with architecture firms NELSON and GF55 Architects to design Terminal Logistics Center as one of the first multistory industrial buildings in the United States at the time of its planning, building upward rather than outward. The project team developed a ramp connecting the first and second floors of the building, large enough for 53-foot trucks to navigate its 28 loading docks. Additionally, Triangle Equities liaised with Queens Community Board 10 and local representatives from nearby PS 124 Osmond A. Church to alleviate traffic on frequently used residential roads, mitigating noise pollution for local residents.

Its location near MTA bus lines, the Belt Parkway, Nassau Expressway, the Van Wyck Expressway, other major roadways, and JFK Airport adds to its convenience and confers upon tenants the ability to conveniently conduct business anywhere in the world.

Terminal Logistics Center is the recipient of the Queens Chamber of Commerce 2024 Building Award, as well as the 2022 Big Apple Brownfield Award for Economic Development for its environmental remediation impact.