SAN FRANCISCO–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 San Jose, California on February 24, 2016 for a sale price of approximately $8.2 million.
The property consists of one flex/R&D industrial building containing approximately 72,000 square feet on approximately 3.6 acres. The property is at 2190 Fortune Drive, is 100% leased to two tenants and was purchased by Terreno Realty Corporation March 30, 2010 for approximately $5.6 million. The estimated unleveraged internal rate of return generated by the investment was approximately 11.3%.
Terreno Realty Corporation is an acquirer, owner and operator of 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./Baltimore.
Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.