Terreno Realty Corporation, a prominent acquirer, owner, and operator of industrial real estate across major U.S. coastal markets, has expanded its Northern New Jersey portfolio with the $5.4 million purchase of an industrial distribution facility in Carlstadt.
The acquisition, which closed on Nov. 2, reinforces institutional demand for low-coverage infill distribution assets located along the key Meadowlands logistics corridor.
Situated at 135 Grand Street, the property sits on 2.5 acres in Bergen County, offering efficient access to the Port of New York and New Jersey, major regional transportation arteries, and dense consumer markets across the New York metropolitan area.
Key features of the Carlstadt property include:
- Building Size: Approximately 18,000 square feet of industrial distribution space.
- Site Coverage: Situated on 2.5 acres, providing substantial outdoor loading and operational maneuverability.
- Loading & Access: Equipped with four grade-level loading positions and dedicated parking for 16 vehicles.
- Occupancy: 100% leased to a single tenant under a long-term agreement.
Terreno disclosed an estimated stabilized cap rate of 5.5% for the transaction. The stabilized yield calculation reflects annualized cash-basis net operating income adjusted for market occupancy (typically 95%), divided by total acquisition costs—including the purchase price, diligence fees, closing costs, and initial capital expenditures.
Terreno Realty Corporation concentrates its investment activity exclusively across six major coastal U.S. markets: Northern New Jersey/New York City, Los Angeles, Miami, the San Francisco Bay Area, Seattle, and Washington, D.C.
The Carlstadt transaction aligns with Terreno’s core strategy of acquiring low-coverage, last-mile logistics assets in high-barrier infill markets where industrial land availability remains severely constrained.
