BELLEVUE, Wash.–(BUSINESS WIRE)–Terreno Realty Corporation, an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, sold an industrial property located in Kent, Washington on October 13, 2022 for a sale price of approximately $8.7 million.
The property consists of one industrial distribution building containing approximately 32,000 square feet on 3.8 acres which is 52% leased to one tenant. The property was purchased by Terreno Realty Corporation on July 25, 2014 for approximately $2.8 million. The unleveraged internal rate of return generated by the investment was 15.6%.
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.
