Updated Dec 3, 2024
Terreno Realty Corp. Acquires Industrial Property In Bay Area For $54.6M
3660 Thomas Road, Santa Clara, California 95054, United States
$54,600,000
$404/SF
Building Size
135,000 SF
Asset Type
Industrial
Closing
May 8, 2022
About this deal
AI
The industrial property located at 3660 Thomas Road in the Bay Area was recently sold. The property spans across 6.5 acres and is situated in a prime location.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $54,600,000
- Square Footage: 135,000
- Price per Square Foot: $404
- Date: 05/09/2022
The buyer of this property was Terreno Realty Corp., while the seller was Marchese Properties. Terreno Realty Corp. represented themselves in the deal, acting as their own representative.
This sale represents a significant transaction in the Bay Area industrial market. The property's characteristics, such as its size and prime location, contributed to the high transaction amount of $54,600,000. Both the buyer, Terreno Realty Corp., and the seller, Marchese Properties, played key roles in this deal.
Players
Santa Clara Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93