Terreno Realty Corp. Acquires Santa Ana Property for $49.5 Million
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Terreno Realty Corp. acquired 3500 W. MacArthur Blvd. in Santa Ana for $49.5 million. The 134,000-square-foot warehouse was fully leased to Home Depot and sits on 12.1 acres of industrial-zoned land. The property has seven dock-high doors and three grade-level loading positions.
The company estimated the stabilized cap rate was 5.7% for the Orange County property. This acquisition follows an earlier acquisition in June of a 34,000-square-foot industrial flex building located at 11100 Hindry Ave. in Los Angeles for $10 million.
Bellevue, Washington-based Terreno acquires, owns and operates industrial real estate in six major coastal U.S. markets. It owns approximately 300 buildings nationwide, encompassing more than 19 million square feet.
Information for this article was sourced from Terreno Realty Corp.
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