BELLEVUE, Wash.–(BUSINESS WIRE)–Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, sold an industrial property located in West Caldwell, New Jersey on December 19, 2023 for a sale price of approximately $17.8 million.
The property consists of a 93,000 square foot industrial distribution building on 8.9 acres which is 100% leased to two tenants. The property was purchased by Terreno Realty Corporation on June 20, 2013 for approximately $6.8 million. The unleveraged internal rate of return generated by the investment was 11.2%.
Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C.
Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.
