Terreno Realty Corp acquires building in North Bergen for $14 million
Street Insider- Terreno Realty Corporation (NYSE: TRNO), an acquirer, owner and operator of industrial real estate in six major coastal…
Street Insider- Terreno Realty Corporation (NYSE: TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property located in North Bergen, New Jersey on April 20, 2017 for a purchase price of approximately $14.0 million.
The property consists of one industrial distribution building containing approximately 126,000 square feet on approximately 4.4 acres adjacent to Exit 16E of the New Jersey Turnpike and approximately five miles from Manhattan. The property is at 7777 West Side Avenue, provides eight dock-high and two grade-level loading positions, parking for 70 cars and is 100% leased to one tenant. The estimated stabilized cap rate of the property is 5.3%.
Read more at StreetInsider.com
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