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Terreno Realty acquires Medley, FL property for $6M

Terreno Realty acquired a property containing approximately 53,000 square feet within one multi-tenant industrial building and an adjacent improved 2.28 acre lot located in Medley, Florida on April 26 for a purchase price of approximately $6M. The improved lot is 100% leased to a leading provider of ground small-package delivery services. The estimated stabilized cap rate of the property is 7.0%.