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Terreno Realty Acquires California Industrial Property for USD 6.3m
Friday 14 May 2021

Washington, US-based real estate company Terreno Realty Corp. (NYSE: TRNO) has acquired a 100% leased industrial property located in Torrance, California for USD 6.3m, the company said.

The property consists of one industrial distribution building containing approximately 17,000 square feet on 0.9 acres. The property and the estimated stabilised cap rate is 4.7%.

Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer's due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilisation.

Terreno Realty Corp. acquires, owns and operates industrial real estate in six major coastal US markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, DC.
Date Published: 14/05/2021