Tereno Realty Acquires Buildings in California

Terreno Realty, an owner and operator of industrial real estate, said early Friday it acquired an industrial property located in Santa Fe Springs, California, on July 6, for $14.9 million.

The property consists of two rear-load industrial distribution buildings containing 87,000 square feet on 5.3 acres. The property provides 17 dock-high and ten grade-level loading positions, parking for 150 cars and is 100% leased to eight tenants. The estimated stabilized cap rate of the property is 4.7%.

By Kristin Senesi