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**Terreno Realty Acquires Santa Ana Home Depot Site for $49.5 Million**
Terreno Realty Corporation, based in Bellevue, Washington, has acquired an industrial property in Santa Ana, California, currently leased to a major home improvement retailer, identified as Home Depot. The transaction was valued at $49.5 million, reflecting an estimated stabilized capitalization rate of 5.7%. The seller’s identity was not disclosed.
The property is located at 3500 W. MacArthur Blvd. and encompasses approximately 134,000 square feet on 12.1 acres of industrial-zoned land. Currently 100% leased, the site functions as both a retail location and a distribution center. It features seven dock-high and three grade-level loading positions, supporting efficient logistics operations.
The acquisition follows several strategic transactions by Terreno. In May, the real estate investment trust (REIT) sold the Garfield Business Center in Commerce, California, for $97 million to a joint venture between Palisade Group and vehicles managed by Benefit Street Partners. Earlier in the year, Terreno also completed the industrial redevelopment of another Santa Ana property, previously consisting of three multi-tenant office buildings.
Terreno has not disclosed future plans for the 3500 W. MacArthur property.
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