Terreno Realty acquires industrial property in California for $10M

Terreno Realty (TRNO) acquired an industrial property located in Los Angeles, California on June 6 for a purchase price of approximately $10M. The property consists of one industrial flex building containing approximately 34,000 square feet on 1.5 acres. The property is at 11100 Hindry Avenue, west of I-405 and adjacent to Los Angeles International Airport, and provides two dock-high and five grade-level loading positions. The property is 100% leased to four tenants all of which expire by September 2028 and the estimated stabilized cap rate is 6.4%.