Terreno Realty Corporation Sells Property in Bound Brook, NJ for $110.4 Million

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 Bound Brook, New Jersey on May 2, 2022 for a sale price of approximately $110.4 million.

The property consists of 18 industrial distribution buildings containing approximately 581,000 square feet on 38 acres which are 100% leased to 29 tenants. The property was purchased by Terreno Realty Corporation on September 24, 2010 for approximately $27.0 million and was 76% leased to 20 tenants at acquisition. The unleveraged internal rate of return generated by the investment was 15.2%.

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.

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