Terreno Realty Corporation Sells Property in East Hanover, NJ for $32.7 Million
Terreno Realty Corporation (NYSE:TRNO) sold an industrial property in East Hanover, New Jersey, on October 12, 2021, for approximately $32.7 million. The property includes three buildings totaling around 167,000 square feet on 11.7 acres, currently 88.2% leased to 32 tenants. Terreno originally purchased the property for about $20.0 million on September 30, 2013, generating an unleveraged internal rate of return of 10.1% on the investment.
- Sale of an industrial property for approximately $32.7 million.
- Unleveraged internal rate of return of 10.1% on the property sold.
- None.
The property consists of three industrial buildings containing approximately 167,000 square feet on 11.7 acres at 9,
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