Terreno Realty sells vacant East Rutherford warehouse for about $25M
Terreno Realty Corporation has sold an empty 86,000 sq ft warehouse in East Rutherford, New Jersey, for roughly $25.0 million. The site was bought in 2015 for $9.3 million.
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what happened
Terreno Realty Corporation has sold a vacant 86,000-square-foot warehouse in East Rutherford, New Jersey. The deal closed on October 14, 2026, for roughly $25.0 million. The property is a rear-load distribution building sitting on 4.3 acres.
The company acquired the asset on October 15, 2015, paying $9.3 million. The investment delivered an unleveraged internal rate of return of 11.0%. Terreno manages industrial holdings across six large coastal metro areas in the United States, including New York and Northern New Jersey.
why it matters
For markets, the sale brings cash onto the company's balance sheet without removing any rental income, since the building was empty. The release does not say how the roughly $25 million will be used, so investors will watch for news on new acquisitions or debt reduction. The result also offers a concrete example of how a coastal warehouse asset performed over a decade of ownership.
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prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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