Terreno Realty Sells 162 KSF Industrial Asset in LA
- May 03, 2017
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