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California  + Orange County  + Retail  | 

Terreno Acquires Santa Ana Home Depot Store and Warehouse

Bellevue, WA-based Terreno Realty Corporation acquired an industrial property located in Santa Ana and leased to a home improvement retailer, identified in published reports as Home Depot. The purchase price was $49.5 million at an estimated stabilized cap rate of 5.7%; the seller was not disclosed.

Located at 3500 W. MacArthur Blvd., the property spans approximately 134,000 square feet on 12.1 acres of industrial zoned land. The property is currently 100% leased and is operated as a retail location and distribution center. It provides seven dock-high and three grade-level loading positions.

Last month, Terreno sold Garfield Business Center in Commerce for $97 million to a joint venture of Palisade Group and vehicles managed by Benefit Street Partners. In February, Terreno completed the industrial redevelopment of another property in Santa Ana that formerly held three multi-tenant office buildings. The REIT didn’t disclose plans for 3500 W. MacArthur.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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