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 Miami, Florida on November 21, 2018 for a sale price of approximately $4.3 million.
The property consists of one light industrial building containing approximately 25,000 square feet on 1.2 acres at 7500 NW 26th Street which is 100% leased to one tenant on a short-term basis. The property was purchased by Terreno Realty Corporation September 25, 2012 for approximately $3.2 million. The estimated unleveraged internal rate of return generated by the investment was 14.3%.
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 companys web site at www.terreno.com.
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Terreno Realty Corporation
W. Blake Baird
Michael A. Coke