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1 Dodge Drive
SOLD

Terreno Realty Corporation Sells West Caldwell Industrial Property For $17.8M

1 Dodge Drive

Industrial
93,000 SF
clock iconSold 213 days ago
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Summary

Sale
NEW JERSEY
Industrial
93,000 sqft

Terreno Realty Corporation has sold an industrial property in West Caldwell, NJ. The property is located at 1 Dodge Drive and covers an area of 8.9 acres. It encompasses a 93,000-square-foot building.

Summary of transation details

  • Property Type: Industrial
  • Transaction Amount: $17,800,000
  • Market: West Caldwell
  • Seller: Terreno Realty Corporation - Blake Baird

The property was sold for a total of $17.8 million. This resulted in an 11.2% unleveraged internal rate of return for Terreno Realty Corporation. The property was originally acquired by Terreno in 2013 for $6.8 million. At the time of the sale, it was fully leased to two tenants.

Details

Deal Summary
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SOLD
IMAGE: Blake Baird DATE: 12/20/2023 ADDRESS: 1 Dodge Drive MARKET: West Caldwell ASSET TYPE: Industrial ~ ACRES: 8.9 SELLER: Terreno Realty Corporation - Blake Baird SALE PRICE: $17,800,000 SF: 93,000 ~ PPSF: $191 NOTE: Terreno Realty Corporation has sold a 93,000-square-foot industrial property in West Caldwell, NJ, for $17.8 million, generating an 11.2% unleveraged internal rate of return. The property, acquired by Terreno in 2013 for $6.8 million, was fully leased to two tenants.

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