Terreno Realty Divests Union City, CA Property For $16.9 Mln

(RTTNews) - Terreno Realty Corporation (TRNO), a California-based industrial real estate company, on Wednesday, announced that it has completed the sale of an industrial property in Union City, California, on January 7, 2025, for a total transaction value of approximately $16.9 million.

The property comprises a single industrial distribution building with approximately 66,000 square feet of space situated on a 3.0-acre parcel, which is currently vacant. The property was acquired by Terreno Realty Corporation on March 26, 2015, for $7.4 million. The investment achieved an unleveraged internal rate of return of 13.0 percent.

Terreno Realty Corporation specializes in the acquisition, ownership, and operation of industrial real estate across six major coastal U.S. markets: New York City/Northern New Jersey, Los Angeles, Miami, the San Francisco Bay Area, Seattle, and Washington, D.C.

TRNO is currently trading at $58.10 or 0.58% lower on the New York Stock Exchange.