Terreno Sells Doral Industrial Property For $20.6 Million

Terreno Realty Corporation, an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, sold an industrial property located at 1401 NW 78th Avenue in Doral on November 21 for a sale price of approximately $20.6 million.

The property consists of one industrial distribution building totaling 75,000 square feet on 2.8 acres, which is 100% leased to one tenant, packaging company Vista Color Corp.

The property was purchased by Terreno Realty Corporation on July 23, 2012 for approximately $4.2 million. The unleveraged internal rate of return generated by the investment was 13.4%.