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 Newark, New Jersey on December 10, 2024 for a sale price of approximately $29.8 million.
The property consists of a 5.7-acre improved land parcel which is 100% leased to one tenant. The property was purchased by Terreno Realty Corporation on June 29, 2017 for approximately $8.8 million. The unleveraged internal rate of return generated by the investment was 14.9%.
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.
Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.
