Terreno Realty Corporation Sells Property In Hanover, MD For $18M
Portfolio Pulse from Benzinga Newsdesk
Terreno Realty Corporation (NYSE:TRNO) has sold an industrial property in Hanover, Maryland for approximately $18.0 million. The property, which was purchased by Terreno Realty Corporation in 2016 for approximately $8.2 million, is 100% leased to one tenant. The unleveraged internal rate of return generated by the investment was 17.5%.
October 05, 2023 | 1:18 pm
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Terreno Realty Corporation has sold a property for a significant profit, which could positively impact its financial performance.
The sale of the property for $18 million, which was originally purchased for $8.2 million, represents a significant return on investment for Terreno Realty Corporation. This could lead to an increase in the company's assets and equity, potentially leading to a positive impact on its stock price in the short term.
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