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Terreno Realty Sells New Jersey Property For $25M

Terreno Realty Corp (NYSE:TRNO) sold an industrial property located in Somerset, New Jersey, on November 17, 2022, for a sale price…
byShivani Kumaresan
November 18, 2022
1 minute read
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  • Terreno Realty Corp (NYSE:TRNO) sold an industrial property located in Somerset, New Jersey, on November 17, 2022, for a sale price of about $25.0 million.
  • The property consists of one industrial distribution building containing 86,000 square feet on 6.9 acres, leased to one tenant.
  • Terreno Realty purchased the property on September 1, 2016, for approximately $9.1 million.
  • The unleveraged internal rate of return generated by the investment was 20.7%.
  • Terreno Realty acquires, owns and operates industrial real estate in six major coastal U.S. markets.
  • Price Action: TRNO shares are trading higher by 0.087% at $57.67 on the last check Friday.
 
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