SAN FRANCISCO--(BUSINESS WIRE)--Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, sold an industrial property located in Hialeah, Florida on June 25, 2018 for a sale price of approximately $24.3 million.
The property consists of one industrial distribution building containing approximately 302,000 square feet on approximately 10.5 acres at 215 SE 10th Avenue which is 100% leased to one tenant. The property was purchased by Terreno Realty Corporation December 20, 2010 for approximately $9.0 million. The estimated unleveraged internal rate of return generated by the investment was approximately 11.5%.
Terreno Realty Corporation acquires, owns and operates 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.
Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.
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