Terreno Realty Corporation Acquires Building in Doral, FL for $4.2 Million

Terreno Realty Corporation TRNO acquired an industrial property located in Doral, Florida on July 23, 2012 for a purchase price of approximately $4.2 million. The property consists of one industrial building containing approximately 75,000 square feet. The property is currently vacant and is at 1401 NW 78th Avenue in Doral, adjacent to the Palmetto Expressway and the west cargo area of Miami International Airport. The estimated stabilized cap rate of the property is 7.2%.