Terreno Realty Corporation Acquires Property in Newark, NJ for $17.3 Million
Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property in Newark, New Jersey on April 18, 2022 for a purchase price of approximately $17.3 million.
- Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property in Newark, New Jersey on April 18, 2022 for a purchase price of approximately $17.3 million.
- The 9.7-acre improved land parcel at 87 Doremus Avenue is adjacent to Exit 15E of the New Jersey Turnpike and Terreno Realty Corporations 85 Doremus Avenue property.
- The property is 100% leased to two tenants, one of which is on a short-term basis, and the estimated stabilized cap rate is 5.3%.
- Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C.