SAN FRANCISCO--(BUSINESS WIRE)--Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, sold an industrial property located in Jessup, Maryland on December 29, 2017 for a sale price of approximately $11.5 million.
The property consists of one industrial distribution building containing approximately 135,000 square feet at 8441 Dorsey Run Road which is 44% leased to one tenant. The property was purchased by Terreno Realty Corporation March 25, 2011 for approximately $5.8 million. The estimated unleveraged internal rate of return generated by the investment was approximately 11.9%.
Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C.
Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.