Terreno Realty (TRNO) acquired an industrial property located in South San Francisco, California on October 15 for a purchase price of approximately $5.6M. The property consists of one industrial distribution building containing approximately 18,000 square feet and one 0.2-acre improved land parcel on 1.0 acres. The property is at 250 South Maple Avenue, between San Francisco International Airport and the City of San Francisco, and provides seven grade-level loading positions and parking for 19 cars. The building is 73% leased to four tenants and the improved land parcel is 100% leased to one tenant all of which expire by June 2028. The estimated stabilized cap rate is 6.3%.
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