Terreno Realty Corporation Sells Property in Union City, CA for $16.9 Million
Terreno Realty (NYSE:TRNO) has sold an industrial property in Union City, California for $16.9 million on January 7, 2025. The property, which includes a 66,000-square-foot industrial distribution building on 3.0 acres, was originally purchased by the company on March 26, 2015, for $7.4 million. The investment generated an unleveraged internal rate of return of 13.0%.
The property was vacant at the time of sale. Terreno Realty operates in six major coastal U.S. markets, including 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 Union City, California, per 16,9 milioni di dollari il 7 gennaio 2025. La proprietà, che comprende un edificio di distribuzione industriale di 66.000 piedi quadrati su 3,0 acri, era stata acquistata dall'azienda il 26 marzo 2015 per 7,4 milioni di dollari. L'investimento ha generato un tasso di rendimento interno non levereggiato del 13,0%.
L'immobile era vuoto al momento della vendita. Terreno Realty opera in sei principali mercati costieri degli Stati Uniti, inclusi 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 Union City, California, por 16.9 millones de dólares el 7 de enero de 2025. La propiedad, que incluye un edificio de distribución industrial de 66,000 pies cuadrados en 3.0 acres, fue comprada originalmente por la empresa el 26 de marzo de 2015 por 7.4 millones de dólares. La inversión generó una tasa interna de retorno no apalancada del 13.0%.
La propiedad estaba vacía en el momento de la venta. Terreno Realty opera en seis importantes mercados costeros de EE. UU., incluidos la ciudad de Nueva York/Nueva Jersey del Norte, Los Ángeles, Miami, el área de la bahía de San Francisco, Seattle y Washington, D.C.
Terreno Realty (NYSE:TRNO)는 2025년 1월 7일 캘리포니아 유니언시티에 있는 산업 재산을 1,690만 달러에 매각했습니다. 이 재산은 66,000평방피트 규모의 산업 배급 건물과 3.0에이커의 부지를 포함하고 있으며, 원래 2015년 3월 26일에 회사가 740만 달러에 구입한 것입니다. 이 투자는 13.0%의 비레버리지 내부 수익률을 생성했습니다.
재산은 판매 시점에 비어 있었습니다. Terreno Realty는 뉴욕시/노던 뉴저지, 로스앤젤레스, 마이애미, 샌프란시스코 베이 지역, 시애틀 및 워싱턴 D.C. 등 미국의 6개 주요 해안 시장에서 운영되고 있습니다.
Terreno Realty (NYSE:TRNO) a vendu un bien immobilier industriel à Union City, Californie, pour 16,9 millions de dollars le 7 janvier 2025. La propriété, qui comprend un bâtiment de distribution industrielle de 66 000 pieds carrés sur 3,0 acres, a été achetée à l'origine par l'entreprise le 26 mars 2015, pour 7,4 millions de dollars. Cet investissement a généré un taux de rendement interne non levé de 13,0%.
Le bien était vacant au moment de la vente. Terreno Realty opère dans six grands marchés côtiers américains, notamment New York City/Nord du New Jersey, Los Angeles, Miami, la région de la Baie de San Francisco, Seattle et Washington, D.C.
Terreno Realty (NYSE:TRNO) hat eine Industrieimmobilie in Union City, Kalifornien, am 7. Januar 2025 für 16,9 Millionen Dollar verkauft. Die Immobilie, die ein 66.000 Quadratfuß großes Industrie-Distributionsgebäude auf 3,0 Acres umfasst, wurde ursprünglich am 26. März 2015 für 7,4 Millionen Dollar von dem Unternehmen erworben. Die Investition erzielte eine nicht gehebelte interne Rendite von 13,0%.
Die Immobilie war zum Zeitpunkt des Verkaufs leer. Terreno Realty ist in sechs wichtigen Küstenmärkten der USA tätig, einschließlich New York City/Nord-New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle und Washington, D.C.
- Sale price of $16.9 million represents a 128% increase from purchase price
- Achieved 13.0% unleveraged internal rate of return on investment
- Successfully divested vacant property, reducing non-income producing assets
- Property was vacant at time of sale, indicating potential loss of rental income
Insights
The
The deal's pricing, at approximately
For a REIT focused on coastal industrial markets, this transaction showcases effective capital recycling and value-add execution. The strong IRR without leverage highlights TRNO's ability to generate substantial returns through market selection and asset management, particularly important in the current higher interest rate environment.
This transaction offers valuable insights into the Bay Area industrial real estate market dynamics. The successful sale of a vacant property at a significant premium over the purchase price indicates sustained institutional interest in well-located industrial assets, despite broader market uncertainties. The East Bay submarket, particularly Union City, maintains its appeal due to its strategic location serving the broader San Francisco Bay Area distribution network.
The
The property consists of one industrial distribution building containing approximately 66,000 square feet on 3.0 acres which is vacant. The property was purchased by Terreno Realty Corporation on March 26, 2015 for
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
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Terreno Realty Corporation
Jaime Cannon
415-655-4580
Source: Terreno Realty Corporation
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