Terreno Realty (TRNO) sold an industrial property located in Gardena, California for a sale price of approximately $44M. The property consists of two industrial distribution buildings containing 231,000 square foot on 11.1 acres which is currently under redevelopment. The property was purchased by Terreno Realty on December 15, 2017 for $37.6M. The unleveraged internal rate of return generated by the investment was 6.3%.
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