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.