Terreno Realty Corporation Completes Successful Property Sale
BELLEVUE, Wash.-- Terreno Realty Corporation (NYSE: TRNO), recognized for its strategic acquisitions and operations in the industrial real estate sector, has successfully sold a significant property for a staggering $16.9 million. This transaction involves an industrial site situated in Union City, showcasing Terreno's efficiency in handling real estate investments.
Details of the Property Sale
The recently sold property boasts an industrial distribution building that spans approximately 66,000 square feet, located on a substantial 3.0 acres of land, which was vacant at the time of sale. Terreno Realty Corporation had previously acquired this asset on March 26, 2015, for $7.4 million. Remarkably, the investment yielded an impressive unleveraged internal rate of return of 13.0%, highlighting the company’s adept management and strategic vision in the industrial sector.
Terreno Realty's Market Presence
Terreno Realty Corporation is deeply embedded in six major coastal U.S. markets, including New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C. The company continues to expand its footprint, aiming to maximize returns and meet the growing demand for industrial real estate.
Company Growth and Future Prospects
As Terreno Realty Corporation maintains a robust portfolio, its commitment to developing and managing premium industrial properties sets it apart in a competitive market. With strategic decisions and consistent performance in acquiring highly valuable assets, the company is paving the way for future growth and investment opportunities.
Contact and Additional Information
Further insights into Terreno Realty Corporation and its operations can be discovered on their official website, where detailed information about their real estate holdings and market strategies is readily available.
Frequently Asked Questions
What is the significance of the $16.9 million sale?
The sale reflects Terreno Realty Corporation's effective investment strategy and strong market presence, indicating robust growth in their portfolio.
How long did Terreno own the property before selling it?
Terreno Realty Corporation owned the property for almost ten years before successfully selling it.
What was the internal rate of return on this investment?
The investment generated an unleveraged internal rate of return of 13.0%, showcasing effective asset management.
In which markets does Terreno operate?
Terreno Realty operates in six major coastal U.S. markets, which include New York City, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C.
Where can I find more information about Terreno Realty Corporation?
Additional information about Terreno Realty Corporation can be found on their official website, which details their operational strategies and investment portfolio.
