Terreno Realty Corporation Acquires 4.9-Acre Industrial Property In Santa Ana For $14.8M

Terreno Realty Corporation has acquired a 4.9-acre industrial property located at 1720 East Garry Avenue in Santa Ana, California. The property, purchased for $14.8 million, will undergo redevelopment into a 92,000 square foot industrial distribution building. This facility is pre-leased to a life sciences supply chain solutions provider and is expected to yield an estimated cap rate of 5.1%.

Summary of Transaction Details

• Property Type: Industrial
• Transaction Amount: $14,800,000
• Acquired by: Terreno Realty Corporation
• Buyer's Representative: Blake Baird
• Market: Santa Ana
• Address: 1720 East Garry Avenue
• Acres: 4.9

Terreno Realty Corporation, led by Blake Baird, successfully completed the acquisition of this industrial property in Santa Ana. The company plans to redevelop the site to cater to the specific needs of the pre-leased life sciences supply chain solutions provider, positioning the facility as a prime location for their operations. This transaction marks another significant investment by Terreno Realty Corporation in the industrial real estate market.