Terreno Realty Sells New Jersey Property For $25M

by Shivani Kumaresan, Benzinga Staff Writer

November 18, 2022 11:20 AM | 1 min read | Make a Comment

Terreno Realty Corp TRNO sold an industrial property located in Somerset, New Jersey, on November 17, 2022, for a sale price of about $25.0 million.
The property consists of one industrial distribution building containing 86,000 square feet on 6.9 acres, leased to one tenant.
Terreno Realty purchased the property on September 1, 2016, for approximately $9.1 million.
The unleveraged internal rate of return generated by the investment was 20.7%.
Terreno Realty acquires, owns and operates industrial real estate in six major coastal U.S. markets.
Price Action: TRNO shares are trading higher by 0.087% at $57.67 on the last check Friday.

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