Terreno Realty Pays $19MM for 60,000 SQFT Industrial Building Near SFO in South San Francisco
Why this matters
Industrial has moved into a normalization phase after the 2020-2023 frenzy. Vacancies are up modestly, sublease space remains a watch item in the big-box logistics segment, and rent growth has shifted from double-digit to mid-single-digit. The long-term tailwinds — nearshoring, e-commerce penetration, infill scarcity — remain intact. San Francisco continues to clear office at the deepest discounts to 2019 basis seen in the cycle, while multifamily fundamentals have stabilized and life sciences in the Peninsula remains active. Institutional capital is calibrating between core income and value-add basis plays as the cycle matures.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- The 85th San Francisco story tracked on the wire in November 2026. All San Francisco coverage →
- 8 stories mentioning Terreno on the wire in the past 90 days. Terreno coverage →
Computed from Real Estate Trail’s own tracked coverage
Terreno Realty Corporation paid approximately $19.0 million for a fully leased, 1970-vintage distribution building at 233 East Harris Avenue, accepting a 4.8 percent stabilized cap rate to add to its holdings in the i…
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