Terreno Realty (TRNO) announced that it has completed the redevelopment of its 2.8-acre improved land parcel in Rancho Dominguez, California and leased 100% of the property on a short-term basis. The redeveloped property, an improved land parcel on the site of a former 51,000 square-foot building at 14805 S. Maple Avenue, is adjacent to two Terreno Realty Corporation improved land parcels on S. Maple Avenue and between Los Angeles International Airport and the Ports of Los Angeles and Long Beach. The total cost of the redeveloped property is approximately $28.3 million. The property is 100% leased on a short-term basis to a trucking and transloading provider for 18 months and the stabilized cap rate of the redeveloped property is approximately 2.3%.
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