Terreno Realty Corporation Sells Building in Fontana, CA for $33.2 Million
SAN FRANCISCO--(BUSINESS WIRE)--Dec 3, 2018--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 Fontana, California on November 30, 2018 for a sale price of approximately $33.2 million.
The property consists of one industrial distribution building containing approximately 266,000 square feet on approximately 13.1 acres at 14605 Miller Avenue which is 100% leased to one tenant on a short-term basis. The property was purchased by Terreno Realty Corporation December 2, 2014 for approximately $22.9 million. The estimated unleveraged internal rate of return generated by the investment was approximately 14.5%.
Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C.
Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.
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CONTACT: W. Blake Baird
Michael A. Coke
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: REIT CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE
SOURCE: Terreno Realty Corporation
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PUB: 12/03/2018 09:15 AM/DISC: 12/03/2018 09:15 AM