Terreno Realty sells industrial property located in California for $11M

Terreno Realty (TRNO) sold an industrial property located in Santa Fe Springs, California on August 7 for a sale price of approximately $11M. The property consists of a 2.3-acre improved land parcel which is 100% leased. The property was purchased by Terreno Realty Corporation on November 14, 2018 for $6.4M. The unleveraged internal rate of return generated by the investment was 13.2%. 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.