{"id":1004247692,"date":"2018-08-07T01:08:54","date_gmt":"2018-08-07T09:08:54","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004247692"},"modified":"2022-12-07T07:47:15","modified_gmt":"2022-12-07T15:47:15","slug":"terreno-realty-lands-36m-industrial-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/terreno-realty-lands-36m-industrial-asset\/","title":{"rendered":"Terreno Realty Lands $36M Industrial Asset"},"content":{"rendered":"<p>By Jeff Hamann<\/p>\n<div id=\"attachment_1004247695\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/2700-Merced-St..jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004247695\" data-attachment-id=\"1004247695\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/terreno-realty-lands-36m-industrial-asset\/2700-merced-st\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/2700-Merced-St..jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Jeffrey Hamann&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1533569358&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;1&quot;}\" data-image-title=\"2700 Merced St.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;2700 Merced St.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/2700-Merced-St..jpg?w=800\" class=\"wp-image-1004247695 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/2700-Merced-St..jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/2700-Merced-St..jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/2700-Merced-St..jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/2700-Merced-St..jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004247695\" class=\"wp-caption-text\">2700 Merced St.<\/p><\/div>\n<p>Terreno Realty Corp. has acquired a 225,000-square-foot industrial facility in the East Bay for $36 million. The property consists of three industrial buildings and one office building, containing a respective 209,000 and 16,000 square feet.&nbsp;<\/p>\n<p>The estimated stabilized cap rate of the asset is 5.2 percent. The seller, FJM Investments, acquired the property in 2005, according to Alameda County records.<\/p>\n<p>Located at 2700 Merced St. in San Leandro, Calif., the 14.8-acre site is positioned approximately half a mile from the Nimitz Freeway, providing a direct link to much of the wider Bay Area. The buildings border a large industrial area and are 3 miles from Oakland International Airport. The Alameda-Contra Costa Transit District operates two bus routes adjacent to the asset, one offering direct access to San Francisco.<\/p>\n<p>The property contains 12 dock-high doors, four drive-in doors and parking for 374 cars. The buildings are almost 82 percent leased to seven tenants, among them Applied Technologies Group, Physics International and Zayo. As four of the tenants have leases expiring before the end of 2020 with no option to renew, Terreno is considering a full or partial redevelopment of the property in the future.<\/p>\n<p>In April, a joint venture between Comstock Partners and Dune Real Estate traded a <a href=\"https:\/\/www.commercialsearch.com\/news\/colony-northstar-grabs-2-east-bay-industrial-assets\/\">nearly 600,000-square-foot industrial property<\/a> a little more than a mile away.<\/p>\n<p><em>Image via Google Maps<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The East Bay property, roughly 82 percent leased to seven tenants, includes more than 200,000 square feet of distribution and 16,000 of office space across four buildings.<\/p>\n","protected":false},"author":861,"featured_media":1004247695,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,21742,1609,15],"tags":[36351,33863],"class_list":["post-1004247692","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-latest","category-san-francisco","category-west","tag-capital-improvement","tag-terreno-realty-corporation"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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