Terreno Realty acquired an industrial property located in Newark, New Jersey on July 25 for a purchase price of approximately $15M. The estimated stabilized cap rate of the property is 5.6%. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer’s due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.
- Real Estate
- industrial property