**Terreno Realty Sells 39,000-SF Industrial Building in Bellevue for $17.5M**
Terreno Realty Corporation, a real estate investment firm focused on industrial properties in key coastal U.S. markets, has sold an industrial property in Bellevue, Washington, for approximately $17.5 million.
The asset includes one industrial flex building with roughly 39,000 square feet of space situated on 2.1 acres. The property is currently vacant. Terreno originally acquired the site in 2020 for $11.7 million from Topline, a shoe company and the former tenant. The sale generated an unleveraged internal rate of return (IRR) of 11.1%.
Located at 13150 SE 32nd Street in Bellevue, the buyer of the property is Sand Holdings Estate LLC, an entity tied to a local Bellevue investor.
Terreno Realty Corporation owns and operates industrial real estate across six major U.S. coastal markets, including the San Francisco Bay Area, Seattle, Los Angeles, Miami, New York City/Northern New Jersey, and Washington, D.C.
