Terreno Realty (TRNO) acquired an industrial property located in Santa Ana, California on June 20 for a purchase price of approximately $49.5M. The property consists of one industrial distribution building containing approximately 134,000 square feet on 12.1 acres of industrial zoned land. The property is currently 100% leased to a major home improvement retailer and operated as a retail location. The property is at 3500 West MacArthur Boulevard, adjacent to I-405 in Orange County, and provides seven dock-high and three grade-level loading positions. The estimated stabilized cap rate is 5.7%.
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