Real estate company just spent nearly $200M on industrial properties in N.J., Florida
Terreno Realty Corporation has completed the acquisition of industrial properties in Kearny and Doral, Florida for $194.3 million, finalizing a multi-market purchase totaling $426.9 million.
The Bellevue, Washington-based company announced it acquired the properties in a statement.
The purchases include three industrial distribution buildings spanning approximately 509,000 square feet across 27.6 acres, with current occupancy at about 36% among five tenants.
This acquisition represents the final piece of a larger multi-market portfolio encompassing approximately 1.2 million square feet.
Terreno Realty Corporation focuses on acquiring, owning, and operating industrial real estate across six major coastal markets in the United States: New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C.
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