BELLEVUE, Wash. — 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 in Anaheim, California on May 24, 2022 for a purchase price of approximately $15.0 million.
The 2.1-acre improved land parcel at 1160 Fee Ana Street is adjacent to CA SR 91 (The Riverside Freeway). The property is vacant and the estimated stabilized cap rate is 4.7%.
Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer’s due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.
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.
