Terreno Realty Corporation Sells Property In West Caldwell, NJ For $17.8M
Portfolio Pulse from Benzinga Newsdesk
Terreno Realty Corporation (NYSE:TRNO) sold an industrial property in West Caldwell, NJ for $17.8 million, which was originally purchased for $6.8 million in 2013. The property, a 93,000 square foot industrial distribution building, is fully leased to two tenants and generated an 11.2% internal rate of return for Terreno.
December 20, 2023 | 2:15 pm
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Terreno Realty Corporation successfully sold an industrial property for $17.8 million, a significant increase from its $6.8 million purchase price in 2013, reflecting a strong return on investment.
The sale of the property at a price significantly higher than its purchase price indicates a successful investment for Terreno Realty, which could positively influence investor sentiment and potentially increase the stock price in the short term.
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