Terreno Realty Corp. (TRNO), a firm dedicated to the acquisition, ownership, and management of industrial real estate within six key coastal markets in the United States, announced on Friday the divestment of an industrial property situated in South San Francisco, California, for roughly $8 million.
The property comprises a single industrial building, encompassing approximately 22,000 square feet on 0.7 acres, and is entirely leased to a single tenant.
Originally purchased by Terreno Realty in 2020 for $6.3 million, the asset has delivered an unleveraged internal rate of return of 7.5 percent during the holding period.
As of the latest trading session, TRNO shares are priced at $61.70, reflecting an increase of 0.64 percent or $0.39 on the Nasdaq.
