Terreno Realty Corporation Sells Property in South San Francisco, CA for $8.0 Million
Terreno Realty (NYSE:TRNO) has sold an industrial property in South San Francisco, California for $8.0 million on January 16, 2025. The property, which consists of one industrial building spanning approximately 22,000 square feet on 0.7 acres, was initially purchased by the company on July 10, 2020 for $6.3 million. The property is fully leased to a single tenant and generated an unleveraged internal rate of return of 7.5%.
Terreno Realty operates as an acquirer, owner, and operator of industrial real estate across six major coastal U.S. markets: New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C.
Terreno Realty (NYSE:TRNO) ha venduto un immobile industriale a South San Francisco, California, per 8,0 milioni di dollari il 16 gennaio 2025. La proprietà, che consiste in un edificio industriale di circa 22.000 piedi quadrati su 0,7 acri, era stata inizialmente acquistata dall'azienda il 10 luglio 2020 per 6,3 milioni di dollari. L'immobile è completamente affittato a un unico inquilino e ha generato un tasso di rendimento interno non levereggiato del 7,5%.
Terreno Realty opera come acquirente, proprietario e gestore di immobili industriali in sei importanti mercati costieri degli Stati Uniti: New York City/Northern New Jersey, Los Angeles, Miami, Area della Baia di San Francisco, Seattle e Washington, D.C.
Terreno Realty (NYSE:TRNO) ha vendido una propiedad industrial en South San Francisco, California, por 8.0 millones de dólares el 16 de enero de 2025. La propiedad, que consiste en un edificio industrial que abarca aproximadamente 22,000 pies cuadrados en 0.7 acres, fue comprada inicialmente por la empresa el 10 de julio de 2020 por 6.3 millones de dólares. La propiedad está completamente arrendada a un solo inquilino y generó una tasa interna de retorno no apalancada del 7.5%.
Terreno Realty opera como adquirente, propietario y operador de bienes raíces industriales en seis importantes mercados costeros de EE.UU.: Nueva York/Nueva Jersey del Norte, Los Ángeles, Miami, Área de la Bahía de San Francisco, Seattle y Washington D.C.
테레노 리얼티 (NYSE:TRNO)는 2025년 1월 16일 캘리포니아의 사우스 샌프란시스코에 있는 산업용 부동산을 800만 달러에 판매했습니다. 이 부동산은 약 22,000 평방피트의 산업 건물로 구성되어 있으며 0.7에이커에 위치하고 있으며, 회사는 2020년 7월 10일에 630만 달러에 처음 구매했습니다. 이 부동산은 단일 세입자에게 전액 임대되었으며 비레버리지 내부 수익률 7.5%를 기록했습니다.
테레노 리얼티는 뉴욕시/노던 뉴저지, 로스앤젤레스, 마이애미, 샌프란시스코 베이 지역, 시애틀 및 워싱턴 D.C.의 6개 주요 해안 시장에서 산업용 부동산을 인수, 소유 및 운영하는 회사입니다.
Terreno Realty (NYSE:TRNO) a vendu une propriété industrielle à South San Francisco, Californie, pour 8,0 millions de dollars le 16 janvier 2025. La propriété, qui comprend un bâtiment industriel d'environ 22 000 pieds carrés sur 0,7 acre, a été initialement achetée par l'entreprise le 10 juillet 2020 pour 6,3 millions de dollars. La propriété est entièrement louée à un seul locataire et a généré un taux de rendement interne non levé de 7,5 %.
Terreno Realty agit en tant qu'acquéreur, propriétaire et opérateur de biens immobiliers industriels dans six grands marchés côtiers des États-Unis : New York City/Northern New Jersey, Los Angeles, Miami, région de la baie de San Francisco, Seattle et Washington, D.C.
Terreno Realty (NYSE:TRNO) hat eine Industrieimmobilie in South San Francisco, Kalifornien, am 16. Januar 2025 für 8,0 Millionen Dollar verkauft. Die Immobilie besteht aus einem Industriegebäude mit einer Fläche von etwa 22.000 Quadratfuß auf 0,7 Acres und wurde ursprünglich am 10. Juli 2020 für 6,3 Millionen Dollar vom Unternehmen gekauft. Die Immobilie ist vollständig an einen einzigen Mieter vermietet und generierte eine unleveragierte interne Rendite von 7,5 %.
Terreno Realty fungiert als Erwerber, Eigentümer und Betreiber von Industrieimmobilien in sechs wichtigen Küstenmärkten der USA: New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle und Washington, D.C.
- Property sale price of $8.0M represents a 27% gain over $6.3M purchase price
- Generated 7.5% unleveraged internal rate of return
- Property maintained 100% occupancy rate
- 7.5% IRR over 4.5 years represents relatively modest returns in the industrial real estate sector
Insights
Terreno's property sale in South San Francisco reveals a modest but positive return profile in a challenging commercial real estate environment. The
The property metrics - 22,000 square feet on 0.7 acres with 100% occupancy - suggest efficient utilization of a small industrial footprint in the valuable South San Francisco market. The
This transaction appears strategically timed to capitalize on still-healthy industrial property values before potential further market softening, while recycling capital for potentially higher-yielding opportunities across Terreno's six core coastal markets. The sub-
The South San Francisco industrial market context is important here - this submarket has maintained relatively stable fundamentals despite broader market uncertainty. The
The single-tenant nature of the property, while concentrating tenant risk, likely simplified both operations and the eventual disposition process. The modest size of this transaction relative to Terreno's
For broader market implications, this transaction provides a useful data point suggesting that well-located industrial assets in primary coastal markets can still command healthy pricing, even as the broader commercial real estate market faces headwinds from higher interest rates and shifting space demands.
The property consists of one industrial building containing approximately 22,000 square feet on 0.7 acres which is
Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal
Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. We caution investors that forward-looking statements are based on management’s beliefs and on assumptions made by, and information currently available to, management. When used, the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “result,” “should,” “will,” “seek,” “target,” “see,” “likely,” “position,” “opportunity,” “outlook,” “potential,” “enthusiastic,” “future” and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control, including risks related to our ability to meet our estimated forecasts related to stabilized cap rates and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2023 and our other public filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Accordingly, investors should use caution in relying on past forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends.
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Terreno Realty Corporation
Jaime Cannon
415-655-4580
Source: Terreno Realty Corporation
FAQ
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