Terreno Realty Corporation Sells Property In Compton, CA For $15.9M
Portfolio Pulse from Benzinga Newsdesk
Terreno Realty Corporation (TRNO) sold an industrial property in Compton, CA for $15.9M, which was originally purchased for $9.4M in 2017. The property is a 58,000 sq ft industrial distribution building, fully leased to one tenant. The sale resulted in an unleveraged internal rate of return of 13.0% for Terreno, which operates in six major coastal U.S. markets.
January 02, 2024 | 2:15 pm
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Terreno Realty Corporation successfully sold an industrial property for $15.9M, a significant gain over the $9.4M purchase price in 2017, resulting in a 13.0% internal rate of return.
The sale of the property at a substantial gain is likely to be viewed positively by investors, reflecting the company's ability to generate a strong return on its investments. This could lead to a short-term positive impact on TRNO's stock price as the market reacts to the news of the successful sale and the realized return.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100