Terreno Realty Corp. acquired an industrial property in Newark, California for $186 million.
The property consists of four industrial distribution buildings totaling 603,000 square feet on 30.5 acres. The property has 86 dock-high and eight grade-level loading positions and parking for 730 cars. It is 100% leased to four tenants with leases expiring between 2026 and 2032. The estimated stabilized cap rate is 4.6%.
|Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
