Terreno Realty Exits Gardena Industrial Property for $44M
Event summary
- Sold a 231,000 sq ft industrial property in Gardena, CA on March 18, 2026 for $44.0 million.
- Property was acquired on December 15, 2017 for $37.6 million with an unleveraged IRR of 6.3%.
- Asset consists of two distribution buildings under redevelopment on 11.1 acres.
The big picture
This sale represents Terreno's continued portfolio pruning in high-value coastal markets. The $6.4 million gain on the Gardena property highlights the firm's ability to extract value from redevelopment plays, though investors will watch whether this exit signals a broader shift in asset allocation strategy.
What we're watching
- Portfolio Optimization
- How Terreno's sale strategy will impact its coastal market focus.
- Capital Redeployment
- Whether proceeds will fund new acquisitions or reduce leverage.
- Market Timing
- The pace at which similar industrial properties are trading in Southern California.
Related topics