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Blake Baird Of Terreno Realty Corporation Acquires Industrial Buildings From MetLife For $35.5M

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SOLD
$35,500,000

California

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Industrial100,000 SF
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SOLD

Blake Baird Of Terreno Realty Corporation Acquires Industrial Buildings From MetLife For $35.5M

3730 Redondo Beach Avenue

See Similar Deals
Industrial100,000 SF
Sold 08/08/2025
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Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$355
Total Square Footage:100,000 SF
Transaction Type:Sale

The transaction involves two fully leased industrial distribution buildings located at 3700 and 3730 Redondo Beach Avenue in Redondo Beach, California. The properties encompass a total area of 100,000 square feet across 5.1 acres, purchased for a price of $35,500,000, which equals $355 per square foot.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $35,500,000
  • Square Footage: 100,000
  • Address: 3700 & 3730 Redondo Beach Avenue
  • Market: Redondo Beach
  • Seller: MetLife Real Estate Investors
  • Buyer: Blake Baird - Terreno Realty Corporation
  • Estimated Stabilized Cap Rate: 5.8%
  • Acres: 5.1
  • PPSF: $355

Blake Baird from Terreno Realty Corporation acquired the property from a MetLife affiliate, which represents the seller's interests in this transaction. The purchase indicated support for industrial assets in the region, sitting adjacent to another property owned by Terreno Realty Corporation.

Players

Blake Baird
Terreno Realty Corporation
Blake Baird
52 deals$1.9B volume
BUYER
Terreno Realty Corporation
Terreno Realty Corporation
BUYER
MI
MetLife Real Estate Investors
SELLER

Details

SOLD
IMAGE: Blake Baird DATE: 08/08/2025 ADDRESS: 3700 & 3730 Redondo Beach Avenue MARKET: Redondo Beach ASSET TYPE: Industrial ~ ACRES: 5.1 BUYER: Blake Baird - Terreno Realty Corporation SELLER: MetLife Real Estate Investors SALE PRICE: $35,500,000 SF: 100,000 ~ PPSF: $355 NOTE: Terreno Realty paid $35.5M ($355/sf) for two fully leased industrial distribution buildings totaling 100K sf on 5.1 acres at 3700 and 3730 Redondo Beach Ave. in Redondo Beach, CA. The purchase, from a MetLife affiliate, has a 5.8% estimated stabilized cap rate and sits adjacent to another Terreno property.

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

$1,893,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$126,124.00
Cash-on-Cash Return-1.27%
Monthly Debt Service$168,288.11
Annual Debt Service$2,019,457.34