Bellevue-based Terreno Realty Corporation, a leading acquirer and operator of industrial real estate in major coastal markets across the U.S., recently sold an industrial property in Compton for approximately $15.9 million. The buyer’s identity remains undisclosed.
The property encompasses a 58,000-square-foot distribution building on 3 acres of land, fully leased to one tenant. Terreno acquired the property in July 2017 for around $9.4 million and achieved an unleveraged internal rate of return of 13%. With properties also located in Los Angeles, the Bay Area, New York/New Jersey, Washington DC and Miami alongside its home base Seattle,Terreno continues to expand its portfolio within key markets nationwide.
The article “Terreno Offloads Compton Industrial for $16M” was originally published by Connect CRE.
