Terreno Realty Sells 162 KSF Industrial Asset in LA

The property, which is located in Whittier, Calif., sold for $25.3 million and generated an unleveraged internal rate of return of 14.5 percent.
12252 East Whittier Blvd., Whittier, Calif.
12252 East Whittier Blvd., Whittier, Calif.

Terreno Realty Corp. sold an industrial property in Whittier, Calif., for around $25.3 million. The company bought the asset from Sohnen Enterprises in 2012 for $16.1 million. The estimated unleveraged internal rate of return generated by the investment was 14.5 percent.

The 161,610-square-foot industrial development was built in 2004 on approximately 7.4 acres. Located at 12252 E. Whittier Blvd., the Class A property is close to Whittier Marketplace and PIH Health and has easy access to interstates 605 and 5. The one-story asset was managed and leased by CBRE and is fully leased to one tenant.

Terreno Realty Corp. has recently acquired a 1 million-square-foot industrial property in the South Bay submarket of Los Angeles. The company focuses on industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington D.C./Baltimore.

Image via Yardi Matrix