Terreno Realty Corporation, an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, recently acquired an industrial property in Santa Ana for approximately $14.8 million from a seller that was not disclosed. The 4.9-acre property at 1720 E Garry Ave is conveniently located near the Costa Mesa Freeway (CA 55) and less than two miles away from the intersection of CA 55 and I-405 as well as John Wayne Airport in Orange County .
The current three multi-tenant office buildings on site are leased on a short term basis but will be demolished to make way for redevelopment plans due to be completed by first quarter 2025; this includes constructing a 92,000 square foot rear load industrial distribution building with 10 dock high loading positions plus 2 grade level loading positions along with parking space for 145 cars – totaling an expected investment of $40.6 million dollars . This redeveloped facility has already been preleased to one provider offering temperature controlled life sciences supply chain solutions .
