Terreno Realty Corporation Acquires Industrial Property In Redondo Beach For $45.7M

Terreno Realty Corporation has acquired an industrial property in Redondo Beach, California for approximately $45.7 million. The property, located at 2411 Santa Fe Avenue, spans 6.7 acres and consists of two buildings. It is fully leased to two tenants and offers 23 loading positions and 200 parking spaces. With a total square footage of 112,000, the property has a price per square foot of $408 and an estimated stabilized cap rate of 5.3%.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $45,700,000
• Address: 2411 Santa Fe Avenue, Redondo Beach, California
• Market: Redondo Beach
• Acreage: 6.7 acres

The buyer in this transaction is Terreno Realty Corporation, represented by Blake Baird. Their acquisition of this industrial property highlights their continued investment in the Redondo Beach market. The purchase price of $45.7 million reflects the value and potential of this property in a prime location.