Terreno Realty Corporation Sells Industrial Property
Terreno Realty Corporation (NYSE:TRNO), a prominent player in the acquisition and management of industrial real estate across key U.S. coastal markets, has recently completed the sale of an industrial property in South San Francisco for approximately $8.0 million.
Details of the Property Transaction
This transaction involved an industrial building spanning about 22,000 square feet on a 0.7-acre lot, which is fully leased to a single tenant. Terreno Realty Corporation had previously acquired this property on July 10, 2020, for $6.3 million, reflecting a sound investment strategy that yielded an unleveraged internal rate of return of 7.5%.
Terreno's Investment Strategy
Terreno Realty Corporation focuses on industrial real estate in six major U.S. coastal markets, providing them with a diverse portfolio that includes key regions like New York City, Los Angeles, Miami, the San Francisco Bay Area, Seattle, and Washington, D.C. This strategy enables the company to capitalize on the growing demand for industrial spaces.
Long-term Vision and Performance
The recent sale not only illustrates Terreno's effective operational tactics but also highlights the company's commitment to maximizing value in its investment portfolio. With a mix of steady income-producing properties and a strategic acquisition framework, Terreno Realty Corporation continues to strengthen its market position.
About Terreno Realty Corporation
Terreno Realty Corporation is dedicated to acquiring, owning, and managing industrial real estate that meets the evolving needs of tenants. Their approach emphasizes operating in major coastal regions, which allows them to leverage growing market trends effectively. For further insights about the company and its portfolio, you can visit their official website.
Frequently Asked Questions
What type of properties does Terreno Realty Corporation focus on?
Terreno Realty Corporation specializes in industrial real estate located in major coastal markets throughout the United States.
How much did Terreno Realty Corporation sell the property for?
The industrial property was sold for approximately $8.0 million.
What was the internal rate of return on the property?
The unleveraged internal rate of return generated by the investment was 7.5%.
Where is the recently sold property located?
The property is located in South San Francisco, California.
What markets does Terreno operate in?
Terreno Realty Corporation operates in six major coastal U.S. markets including New York City, Los Angeles, Miami, the San Francisco Bay Area, Seattle, and Washington, D.C.
