Terreno Continues Buying Spree, Snatches up Union City Industrial Projects
Address: 33306-33580 Alvarado-Niles Rd, Union City, CA
Seller: Westcore
Buyer: Terreno Realty Corp
RBA SF: 170,086 (between 3 buildings)
Lot size: 10.04 AC (437,342 SF)
Selling price: $23,800,000 ($139.93/SF )
Type: Industrial – Warehouse/retail
This is another example of the strengthening of the industrial markets on both sides of the bay. Kidder Mathews sold this building to Westcore in April of 2012 for $13 million, which now seems like a bargain. It is a strategic piece for Terreno however, since they are also purchasing the new development directly behind this acquisition upon completion of the new construction for a reported $37.2M. The adjacent site was formerly a SF Chronicle paper plant.
