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Terreno Realty Acquires New Jersey Industrial Property for USD 10.6m
Thursday 21 January 2021

San Francisco-based industrial real estate company Terreno Realty Corp. (NYSE: TRNO) has acquired a 16,000-square foot industrial property located in Carlstadt, New Jersey for USD 10.6m, the company said.

The property consists of one industrial transshipment building on 4.3 acres. The property is vacant and the estimated stabilized cap rate is 5.2%.

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 stabilization.

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: 21/01/2021