India, Nov. 3 -- Industrial real estate investment trust Terreno Realty Corp. (TRNO) announced on Tuesday that it has acquired an industrial property in Carlstadt, New Jersey on November 2 for approximately $5.4 million.
The company said the property consists of an 18,000-square-foot industrial distribution building situated on 2.5 acres in The Meadowlands.
Terreno said the property is fully leased to a single tenant and includes four grade-level loading positions and parking for 16 cars.
The company said the property has an estimated stabilized capitalization rate of 5.5%.
On NYSE, shares of Terreno Realty were down 0.07% at $66.71.
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