Terreno Realty Corporation Sells Property in Union City, CA for $13.0 Million
Terreno Realty has sold two industrial flex buildings in Union City, California for $13.0 million. The property, spanning 37,000 square feet on 3.9 acres and fully leased to 20 tenants, was originally purchased in December 2014 for $5.1 million. The investment generated an unleveraged internal rate of return of 18.8%. The company operates industrial real estate across six major coastal U.S. markets, including Northern New Jersey/New York City, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C.
Terreno Realty ha venduto due edifici industriali flessibili a Union City, California per 13,0 milioni di dollari. La proprietà, che si estende su 37.000 piedi quadrati su un terreno di 3,9 acri ed è interamente affittata a 20 inquilini, è stata acquistata originariamente nel dicembre 2014 per 5,1 milioni di dollari. L'investimento ha generato un tasso di rendimento interno non indebitato del 18,8%. L'azienda opera nel settore immobiliare industriale in sei importanti mercati costieri degli Stati Uniti, tra cui il nord del New Jersey/New York City, Los Angeles, Miami, area della Baia di San Francisco, Seattle e Washington, D.C.
Terreno Realty ha vendido dos edificios flexibles industriales en Union City, California por 13,0 millones de dólares. La propiedad, que abarca 37,000 pies cuadrados en 3.9 acres y está completamente alquilada a 20 inquilinos, fue comprada originalmente en diciembre de 2014 por 5.1 millones de dólares. La inversión generó una tasa interna de rendimiento no apalancada del 18,8%. La empresa opera en el sector inmobiliario industrial en seis importantes mercados costeros de EE.UU., incluidos el norte de Nueva Jersey/Nueva York, Los Ángeles, Miami, Área de la Bahía de San Francisco, Seattle y Washington, D.C.
Terreno Realty는 캘리포니아 주 유니온 시티에서 두 개의 산업 플렉스 빌딩을 1,300만 달러에 판매했습니다. 이 자산은 3.9에이커의 면적에 37,000 제곱피트를 차지하며 20명의 세입자에게 전부 임대되었습니다. 이 자산은 2014년 12월에 510만 달러에 처음 구매되었습니다. 이 투자는 18.8%의 비레버리지 내부 수익률을 생성했습니다. 이 회사는 북부 뉴저지/뉴욕, 로스앤젤레스, 마이애미, 샌프란시스코 베이 지역, 시애틀, 워싱턴 D.C. 등 미국의 여섯 주요 해안 시장에서 산업 부동산을 운영하고 있습니다.
Terreno Realty a vendu deux bâtiments industriels flexibles à Union City, Californie pour 13,0 millions de dollars. La propriété, s'étendant sur 37 000 pieds carrés sur 3,9 acres et entièrement louée à 20 locataires, a été achetée à l'origine en décembre 2014 pour 5,1 millions de dollars. L'investissement a généré un taux de rendement interne non endetté de 18,8 %. L'entreprise opère dans l'immobilier industriel sur six grands marchés côtiers des États-Unis, notamment le nord du New Jersey/New York City, Los Angeles, Miami, la région de la baie de San Francisco, Seattle et Washington, D.C.
Terreno Realty hat zwei industrielle Flexgebäude in Union City, Kalifornien für 13,0 Millionen Dollar verkauft. Die Immobilie erstreckt sich über 37.000 Quadratfuß auf 3,9 Acres und ist vollständig an 20 Mieter vermietet. Ursprünglich wurde sie im Dezember 2014 für 5,1 Millionen Dollar gekauft. Die Investition erzielte eine unverschuldete interne Rendite von 18,8%. Das Unternehmen betreibt industrielle Immobilien in sechs wichtigen Küstenmärkten der USA, darunter Nord-New Jersey/New York City, Los Angeles, Miami, San Francisco Bay Area, Seattle und Washington, D.C.
- Sale price of $13.0 million represents significant gain over $5.1 million purchase price
- Strong unleveraged internal rate of return of 18.8%
- Property was 100% leased at time of sale
- None.
Insights
This property sale demonstrates strong value creation, with the asset value more than doubling over a 9-year holding period. The
The multi-tenant nature of the property (20 tenants across 37,000 square feet) suggests intensive management requirements, making this an opportune time to exit and potentially redeploy capital into larger, more efficient assets. The
The property consists of two industrial flex buildings containing 37,000 square feet on 3.9 acres which are
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
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