Terreno Realty Corporation, a company based in Bellevue, WA, has recently completed the redevelopment of a property in Santa Ana. This corporation specializes in acquiring, owning and operating industrial real estate across six major coastal markets in the United States.
The property is located at 1720 E. Garry Ave., adjacent to the Costa Mesa Freeway (CA 55) and less than two miles away from CA 55 and I-405 as well as John Wayne Airport. Terreno acquired this 4.9-acre site back in September of 2023.
Previously consisting of three multi-tenant office buildings that were demolished by Terreno during their redevelopment process, this newly transformed site now features a state-of-the-art rear-load industrial distribution building spanning over an impressive area of 92,000 square feet with ten dock-high loading positions and two grade-level loading positions for easy access to trucks or other vehicles delivering goods or materials on-site.
In addition to these convenient features for transportation purposes on-site parking is also available with space for up to145 cars making it easier for employees or visitors alike who may need parking facilities while visiting this location which had an investment totaling $41.3 million according to reports released by Terreno themselves.
This redeveloped property has been awarded LEED Silver certification due its environmentally friendly design elements incorporated into its construction process such as energy-efficient systems which help reduce carbon emissions thus contributing towards creating more sustainable communities around us all while being fully leased out at present time by one tenant who provides temperature-controlled life sciences supply chain solutions resulting further positive impact upon our environment through responsible business practices adopted here too!
As per estimates provided by Terreno itself they expect returns from their investments made here will yield approximately stabilized cap rate amounting upto5% annually going forward! To learn more about how Michael Brennan received Connect CRE’s Lifetime Achievement Award alongwith Kevin Brennan both representing Brennan Investment Group join us today Register Today to attend Connect Industrial Midwest 2025 event taking place on Wednesday, March 5th at Joe’s Live in Rosemont, IL where you can be present for this exclusive presentation!
