Terreno Realty (TRNO) sold an industrial property located in Newark, New Jersey on December 10 for a sale price of approximately $29.8M. The property consists of a 5.7-acre improved land parcel which is 100% leased to one tenant. The property was purchased by Terreno Realty Corporation on June 29, 2017 for approximately $8.8M. The unleveraged internal rate of return generated by the investment was 14.9%. Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: New York City/Northern New Jersey; Los Angeles; Miami; San Francisco Bay Area; Seattle; and Washington, D.C.
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