Home Finance Terreno Realty Corporation Sells Property in Seattle for $10.3MM

Terreno Realty Corporation Sells Property in Seattle for $10.3MM

(EDITOR’S NOTE: The property sold for about $294 per square foot).

BELLEVUE, Wash.– 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 Seattle, Washington on September 9, 2021 for a sale price of approximately $10.3 million.

The property consists of one industrial distribution building containing approximately 35,000 square feet on 1.1 acres at 25-29 South Hanford Street which is 100% leased to three tenants. The property was purchased by Terreno Realty Corporation on April 21, 2017 for approximately $5.9 million. The unleveraged internal rate of return generated by the investment was 11.0%.

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.