Dec
19
Terreno Snags $38M CA Industrial Asset
ByThe property comprises two distribution facilities located in Gardena that total 231,000 square feet. The estimated stabilized cap rate is approximately 4 percent.
Terreno Realty Corp. has acquired an industrial property made up of two buildings in Gardena, Calif. The 231,000 square feet of distribution space cost the company $37.6 million. The investment is expected to have a cap rate of approximately 4 percent.
The property is located at 1855 W. 139th St. and can be easily reached via interstates 105, 405 and 110. It is fully leased to a single tenant, Z Gallerie Outlet, a home décor company. Both buildings provide 24 dock-high and three grade-level loading doors and a parking lot accommodating up to 163 vehicles…
