Terreno Realty Corporation, a prominent player in the industrial real estate sector, has announced the sale of an industrial property in Commerce, California, for approximately $97.0 million. The property, comprising five multi-tenant industrial buildings and covering around 545,000 square feet on 24 acres, was nearly fully leased to 12 tenants at the time of sale. Terreno Realty had originally acquired the property on May 30, 2012, for $52.4 million, achieving an unleveraged internal rate of return of 9.5% through this investment. The company continues to focus on acquiring, owning, and operating industrial real estate across six major coastal U.S. markets, including New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C.
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