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Terreno Realty buys Calif. industrial property for $38M

Terreno Realty Corp. purchased an 11.1-acre industrial property at 1855 W. 139th St. in Gardena, Calif., for around $37.6 million.

The property consists of two buildings, encompassing roughly 231,000 square feet. With an estimated stabilized cap rate of 4.2%, the asset is fully leased to one tenant, according to a release.