Terreno Realty Expands Footprint With $18M Buy
- Feb 02, 2018
Terreno Realty Co. has purchased a 100,000-square-foot industrial property in Torrance, Calif. for $17.5 million. The single-tenant facility is occupied and managed by Aisin World Corp. until January 2020. The estimated stabilized cap rate of the property is 3.3 percent.
Located at 19801 S. Vermont Ave., the asset sits on 4.7 acres, near the intersection of interstates 110 and 405, within 15 miles of Los Angeles International Airport and downtown Los Angeles. Constructed in 1976, the industrial cross-dock distribution asset features 12 dock-high and three grade-level loading positions and 123 parking spaces. Interior characteristics include 22-foot clear heights, skylights, insulated ceilings and climate control.
Last year, the company purchased a one-million-square-foot industrial property in the South Bay submarket of Los Angeles.
Image courtesy of Yardi Matrix