Terreno Sells South Brunswick Industrial at 640% of 2010 Purchase Price

Terreno Realty Corporation, an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, sold an industrial property located at 130 Interstate Blvd. in South Brunswick, NJ for approximately $144.2 million, or about 640% of what the company paid to acquire it. The buyer was not disclosed.

The property consists of a 603,000-square-foot industrial distribution building on 35.5 acres which is 100% leased. The original property, which spanned 413,000 square feet, was purchased by Terreno in September 2010 for $22.5 million.

In 2013, Terreno acquired the adjacent land and expanded the building by 190,000 square feet for an additional investment of $13.6 million. The unleveraged internal rate of return generated by the investment was 13.4%, according to Terreno.

Terreno continues to own the neighboring 110 Interstate Blvd. along with more than 40 other properties in North and Central Jersey.

Photo courtesy of MRP Industrial.

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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).

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