Terreno Realty Corp. Acquires $73M Industrial Property
The property totals 407,000 square feet.
The property totals 407,000 square feet.
Construction on the new warehouse is expected to start towards the end of 2022 and take about a year to a year and a half to complete.
Larry Genet and Tom O’Loughlin with CBRE represented the seller in the transaction.
Seagis paid $9.4 million for the 2.78-acre lot.
The park will eventually span more than 1.3 million square feet of space.
The company acquired 17 industrial buildings totaling approximately 760,000 square feet of space and 23 acres of developable land in 20 separate transactions.
Transwestern’s Carlos Gaviria, Walter Byrd, Ben Eisenberg and Thomas Kresse represented the tenant in the transaction.
The building is located adjacent to Soho Studios, a 45,000-square-foot creative event space, on a 68,000-square-foot lot located at 2136 NW 1st Ave, which is also owned by The Faith Group.
Cushman & Wakefield’s Wayne Ramoski and Miguel Alcivar represented the seller, DFJ Properties West, LLC, in the transaction.
The 304,408-square-foot portfolio was 64 percent leased at the time of sale.
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