California + Orange County + Industrial | September 11, 2023

Terreno Acquires Santa Ana Industrial, Plans Redevelopment

Terreno Realty Corporation, an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property in Santa Ana for approximately $14.8 million. The seller wasn’t disclosed.

The property at 1720 E. Garry Ave. is immediately adjacent to the Costa Mesa Freeway and less than two miles from the intersection of CA 55 and I-405 and John Wayne Airport. The 4.9-acre property contains three multi-tenant office buildings leased on a short-term basis, which will be demolished.

After redevelopment, due for completion in the first quarter of 2025, the property will contain a 92,000-square-foot rear-load industrial distribution building with 10 dock-high and two grade-level loading positions and parking for 145 cars for a total expected investment of $40.6 million. The redeveloped property is 100% pre-leased to a provider of temperature-controlled life sciences supply chain solutions.

Connect Orange County will take place Sept. 27, 2023 at VEA | Newport Beach Marriott in Newport Beach, concurrently with Connect Healthcare Real Estate on Sept. 27 and 28. Click here to register for Connect Orange County, and here to register for Connect Healthcare Real Estate.

Connect

Inside The Story

Terreno Realty

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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).

Order Reprints