{"id":1004182879,"date":"2017-07-05T00:06:12","date_gmt":"2017-07-05T08:06:12","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004182879"},"modified":"2022-12-09T02:17:04","modified_gmt":"2022-12-09T10:17:04","slug":"terreno-acquires-nj-industrial-asset-for-16m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/terreno-acquires-nj-industrial-asset-for-16m\/","title":{"rendered":"Terreno Acquires NJ Industrial Asset for $16M"},"content":{"rendered":"<p>By Mihaela Coste<\/p>\n<div id=\"attachment_1004182881\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/422-470-Frelinghuysen-Ave.-Newark-N.J..jpeg\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004182881\" data-attachment-id=\"1004182881\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/terreno-acquires-nj-industrial-asset-for-16m\/422-470-frelinghuysen-ave-newark-n-j\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/422-470-Frelinghuysen-Ave.-Newark-N.J.-e1499241830407.jpeg\" data-orig-size=\"715,523\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"422-470 Frelinghuysen Ave., Newark, N.J.\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/422-470-Frelinghuysen-Ave.-Newark-N.J.-e1499241830407.jpeg?w=715\" loading=\"lazy\" class=\"wp-image-1004182881 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/422-470-Frelinghuysen-Ave.-Newark-N.J.-e1499241830407.jpeg\" alt=\"422-470 Frelinghuysen Ave., Newark, N.J.\" width=\"300\" height=\"219\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/422-470-Frelinghuysen-Ave.-Newark-N.J.-e1499241830407.jpeg 715w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/07\/422-470-Frelinghuysen-Ave.-Newark-N.J.-e1499241830407.jpeg?resize=300,219 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004182881\" class=\"wp-caption-text\">422-470 Frelinghuysen Ave., Newark, N.J.<\/p><\/div>\n<p>Terreno Realty Corp. acquired an industrial property in Newark, N.J., for $16.3 million. The property was vacant at the time of the transaction and the estimated stabilized cap rate is 5.3 percent.<\/p>\n<p>Located on a 10.6-acre site at 422-470 Frelinghuysen Ave., the asset is adjacent to routes 1 and 9 and to Interstate 78. Newark Liberty International Airport, as well as Newark Port are also nearby.<\/p>\n<p><strong>Six Major Markets Portfolio<\/strong><\/p>\n<p>The company acquires, owns and operates industrial assets in Los Angeles, Northern New Jersey\/New York City, San Francisco Bay Area, Seattle, Miami and Washington, D.C.\/Baltimore.<\/p>\n<p>Earlier this year, Terreno <a href=\"https:\/\/www.commercialsearch.com\/news\/terreno-adds-126-ksf-industrial-asset-to-its-nj-portfolio\/\" target=\"_blank\" rel=\"noopener noreferrer\">added 126,000 square feet of industrial space<\/a> to its New Jersey portfolio, the transaction marking the 48<sup>th<\/sup> acquisition in the area.<\/p>\n<p><em>Image courtesy of JLL <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The property is in close proximity to Newark Liberty International Airport and Newark Port and was vacant at the time of the transaction. <\/p>\n","protected":false},"author":1192,"featured_media":1004507610,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,1600,21742,10],"tags":[36574,36575,33863],"class_list":["post-1004182879","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-new-york","category-latest","category-northeast","tag-newark-liberty-international-airport","tag-newark-port","tag-terreno-realty-corporation"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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