Terreno Realty (TRNO) Buys Buildings in Sunnyvale, CA for $33.7M
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Terreno Realty Corporation (NYSE: TRNO) acquired three multi-tenant industrial buildings containing approximately 172,000 square feet located in Sunnyvale, California on July 3, 2012 for a purchase price of approximately $33.7 million.
Two R&D buildings aggregating approximately 101,000 square feet are at 904 East Caribbean Drive and 1339 Moffett Park Drive and one distribution building of approximately 71,000 square feet is at 914-918 East Caribbean Drive, within Silicon Valley’s Moffett Park submarket. The properties are adjacent to Highways 237 and 101 and are 100% leased to two tenants. The estimated stabilized cap rate of the property is 7.1%.
Two R&D buildings aggregating approximately 101,000 square feet are at 904 East Caribbean Drive and 1339 Moffett Park Drive and one distribution building of approximately 71,000 square feet is at 914-918 East Caribbean Drive, within Silicon Valley’s Moffett Park submarket. The properties are adjacent to Highways 237 and 101 and are 100% leased to two tenants. The estimated stabilized cap rate of the property is 7.1%.
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