Terreno Realty (TRNO) said Tuesday that it has completed the redevelopment of a 2.8-acre land parcel in Rancho Dominguez, California and leased all of the property on a short-term basis.
The company said the property has been leased to a trucking and transloading provider for 18 months, and that the stabilized cap rate of the redeveloped property is approximately 2.3%.
The total cost of the redeveloped property is approximately $28.3 million, Terreno Realty said.
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