Blake Baird Of Terreno Realty Corporation Acquires Industrial Portfolio In Doral FL And Kearny NJ For $194.3M

Terreno Realty Corporation has acquired an industrial portfolio consisting of three buildings located in Doral, FL, and Kearny, NJ. The total area of the portfolio is 509,000 square feet, situated on 27.6 acres, with a sale price of $194,300,000 and a price per square foot of $382. The properties are currently 36% leased.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $194,300,000
• Total Square Footage: 509,000
• Price per Square Foot: $382
• Acres: 27.6
• Buyer: Blake Baird - Terreno Realty Corporation
• Markets: Doral, FL & Kearny, NJ
• Percentage Leased: 36%
• Total Portfolio Acquired: 1.2M SF
• Total Portfolio Transaction Amount: $426.9M
• Estimated Stabilized Cap Rate: 5.0%

This transaction was represented by Blake Baird from Terreno Realty Corporation, highlighting the significant investment in the multi-market portfolio, which stands as a substantial addition to their assets in the industrial sector.