Terreno Realty Corporation, a Bellevue, WA-based acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, sold an industrial property located in Compton for a sale price of approximately $15.9 million. The buyer was not disclosed.
The property consists of a 58,000-square-foot industrial distribution building on 3.0 acres which is 100% leased to one tenant. The property was purchased by Terreno Realty Corporation in July 2017 for approximately $9.4 million. The unleveraged internal rate of return generated by the investment was 13.0%.
Terreno owns industrial properties in the metro areas of Los Angeles, the Bay Area, New York/New Jersey, Washington, DC and Miami in addition to its native Seattle.
