Terreno Realty sell property in California for $13M

Terreno Realty (TRNO) sold the flex industrial portion of a seven-building Terreno Realty property located in Union City, California on November 14 for a sale price of approximately $13M. The property consists of two industrial flex buildings containing 37,000 square feet on 3.9 acres which are 100% leased to 20 tenants. The property was purchased by Terreno Realty Corporation on December 10, 2014 for approximately $5.1M. The unleveraged internal rate of return generated by the investment was 18.8%. Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Northern New Jersey/New York City; Los Angeles; Miami; San Francisco Bay Area; Seattle; and Washington, D.C.