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Blake Baird Of Terreno Realty Corporation Sells 545000 SF Industrial Complex In Commerce For $97M

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SOLD
$97,000,000

California

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Industrial545,000 SF
Sold 05/27/2025
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SOLD

Blake Baird Of Terreno Realty Corporation Sells 545000 SF Industrial Complex In Commerce For $97M

3300 3430 Garfield Avenue

See Similar Deals
Industrial545,000 SF
Sold 05/27/2025
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$178
Total Square Footage:545,000 SF
Transaction Type:Sale

A 24-acre industrial complex located at 3300-3430 Garfield Avenue in Commerce was sold for $97 million. The property spans a total of 545,000 square feet and comprises five multi-tenant buildings. The price per square foot was $178, and the complex is 99% leased, reflecting a robust investment opportunity for the buyer.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $97,000,000
  • Address: 3300-3430 Garfield Avenue
  • Market: Commerce
  • Acres: 24
  • Square Footage: 545,000
  • Price Per Square Foot: $178
  • Seller: Blake Baird - Terreno Realty Corporation

This transaction represented a significant return on investment for Terreno Realty Corporation, as the company nearly doubled its 2012 purchase price of $52.4 million. The sale generated a 9.5% unleveraged internal rate of return.

Players

Blake Baird
Terreno Realty Corporation
Blake Baird
53 deals$1.9B volume
SELLER

Details

SOLD
IMAGE: Blake Baird DATE: 05/27/2025 ADDRESS: 3300-3430 Garfield Avenue MARKET: Commerce ASSET TYPE: Industrial ~ ACRES: 24 SELLER: Blake Baird - Terreno Realty Corporation SALE PRICE: $97,000,000 SF: 545,000 ~ PPSF: $178 NOTE: Terreno Realty sold a 545,000 SF industrial complex in Commerce, CA for $97M, nearly doubling its 2012 purchase price of $52.4M. The 24-acre, 99% leased property spans five multi-tenant buildings and generated a 9.5% unleveraged IRR.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$5,173,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$344,620.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$459,829.49
Annual Debt Service$5,517,953.85