Terreno Realty Corporation, an industrial real estate firm headquartered in California, announced on Wednesday the successful sale of one of its properties located in Union City, California. The transaction, finalized on January 7, 2025, amounted to approximately $16.9 million.
The sold asset includes a single industrial distribution building covering approximately 66,000 square feet on a 3-acre plot. The site is currently unoccupied. Initially, Terreno Realty acquired this property on March 26, 2015, for $7.4 million. Over the years, this investment yielded an unleveraged internal rate of return of 13.0 percent for the company.
Operating within six major coastal U.S. markets—namely New York City/Northern New Jersey, Los Angeles, Miami, the San Francisco Bay Area, Seattle, and Washington, D.C.—Terreno Realty Corporation focuses on the acquisition, ownership, and management of industrial properties.
Presently, Terreno Realty Corporation shares are being traded at $58.10, reflecting a decrease of 0.58% on the New York Stock Exchange.
