Terreno Realty Corp. Sells $22M Industrial Asset
The company originally acquired the 192,000-square-foot, Florida distribution property in 2010 for $7.8 million.
MIAMI LAKES, FL – Terreno Realty Corp. has sold a 192,000-square-foot, industrial distribution property in Miami Lakes, FL, for $22.2 million.
The property is currently fully-leased to one tenant.
Situated on 13.2 acres of land, the industrial distribution building is located at 14100 NW 60th Ave.
Terreno Realty Corp. initially purchased the property in December 2010 for $7.8 million. The investment’s unleveraged, internal return rate was 7.4%.
Terreno Realty Corp. currently acquires, owns and operates industrial real estate properties throughout six coastal US markets, including Los Angeles, northern New Jersey/New York City, the San Francisco Bay Area, Seattle, Miami and Washington DC.