Terreno Realty Corporation Sells Property in Bayonne, NJ for $24.3 Million

BELLEVUE, Wash.–(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 Bayonne, New Jersey on December 27, 2022 for a sale price of approximately $24.3 million.

The property consists of one industrial distribution building containing approximately 98,000 square feet on 3.6 acres which is 100% leased to one tenant. The property was purchased by Terreno Realty Corporation on March 31, 2014 for approximately $9.2 million. The unleveraged internal rate of return generated by the investment was 14.1%.

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