Terreno Realty sells industrial property in New Jersey for $25.5M

Terreno Realty sold an industrial property located in North Bergen, New Jersey on May 1 for a sale price of approximately $25.5M. The property consists of one industrial distribution building containing approximately 127,000 square feet on 4.4 acres which is 100% leased to one tenant. The property was purchased by Terreno Realty on April 20, 2017 for approximately $14M. The unleveraged internal rate of return generated by the investment was 14.4%.