Terreno Nabs 8 CA Industrial Buildings for $28M
- Dec 20, 2017
Terreno Realty Corp. has acquired the eight-building Hawthorne Business Park in Hawthorne, Calif. for $27.6 million. The property, consisting of one distribution and seven flex buildings, totals 152,000 square feet. The closing cap rate was an estimated 4.4 percent.
Located at 3355-3437 W. El Segundo Blvd., the property sits one mile south of Interstate 105 and two miles east of Interstate 405, offering convenient access to Los Angeles International Airport, about five miles away. The buildings are situated in the center of the El Segundo Boulevard industrial corridor, within three to four blocks of a primarily residential area.
The buildings are equipped with a total of 10 dock-high loading doors, 29 grade-level doors and 225 parking spaces available to tenants. The property is fully leased to 19 tenants, with four leasing space on a month-to-month basis.
Terreno also recently purchased a Los Angeles-area single tenant industrial asset for $37.6 million.
Image via Google Street View