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Terreno Realty Corporation
TRNO acquired an industrial property located in Commerce, California on May 30, 2012 for a purchase price of approximately $52.4 million.
The property consists of five multi-tenant industrial buildings containing approximately 545,000 square feet. The rail served property is currently 79% leased to 14 tenants. Garfield Business Center is at 3300-3430 Garfield Avenue in the Mid-Counties submarket with direct access to the I-5, I-710 and I-605 expressways via Bandini Boulevard. The estimated stabilized cap rate of the property is 6.0%.
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