Terreno Realty sells industrial property in Maryland for $18M

Terreno Realty sold an industrial property located in Hanover, Maryland on October 4 for a sale price of approximately $18M. The property consists of a 13.4-acre improved land parcel which is 100% leased to one tenant. The property was purchased by Terreno Realty Corporation on July 12, 2016 for approximately $8.2M. The unleveraged internal rate of return generated by the investment was 17.5%.