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 North Bergen, New Jersey on May 1, 2023 for a sale price of approximately $25.5 million.
The property consists of one industrial distribution building containing approximately 127,000 square feet on 4.4 acres which is 100% leased to one tenant. The property was purchased by Terreno Realty Corporation on April 20, 2017 for approximately $14.0 million. The unleveraged internal rate of return generated by the investment was 14.4%.
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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Terreno Realty Corporation