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October 23, 2018
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SOUTHERN CALIFORNIA NEWS
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Terreno Realty Corp Pays $13 Mil for Five-Acre Industrial Site in Carson

1/02/18

Terreno Realty Corp paid $12.9 mil for a 5.1-acre industrial parcel in the city of Carson. The property was sold by Wilson Properties, a subsidiary of Distribution Now.

The property is located at 2315 E. Dominguez St, just 10 miles from the twin deep-water ports of Los Angeles and Long Beach. It offers direct access to the San Diego (I-405) and Long Beach (I-710) freeways and the rail-served Alameda Corridor, all major surface transit hubs for container shipping.

Patrick Barnes led a Colliers International team that represented the seller in the transaction. According to Colliers, the listing generated nearly two dozen offers from a broad base of industrial buyers and local users despite the city’s temporary ban on certain industrial uses. Terreno Realty is a publicly traded real estate investment trust (REIT) that owns and operates industrial properties in six major U.S. coastal markets, tendered the winning bid.

Barnes commented, “Even with a temporary moratorium on certain types of uses imposed by this city, those who did bid were willing to play the odds that this property, with its almost ideal location and configuration, would continue to be in high demand from corporate users in need of infill land. It’s hard to see an end to demand of port adjacent industrial land given the macroeconomic demands our country is currently experiencing.”





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