Terreno Realty Corporation TRNO, an acquirer, owner and operator of
industrial real estate in six major coastal U.S. markets, acquired a property
containing approximately 186,000 square feet within three industrial buildings
located in Carson, California on December 20, 2012 for a purchase price of
approximately $12.75 million.
The buildings are at 17110, 17120 and 17180 South Main Street in the South Bay
submarket, adjacent to CA Highway 91 and I-110, approximately midway between
Los Angeles International Airport and the Ports of LA and Long Beach. The
approximately 9.6 acre site is 100% ground leased until June 30, 2015. The
ground lease payment provides an actual cap rate of 0.3%. After expiration of
the ground lease the estimated stabilized cap rate of the property is 8.4%.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In: News
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in