Gardena parcel sold
Terreno Realty sold an 11.1‑acre Gardena site and 231,000‑sq‑ft property for $44 million — a disposition that produced a 6.3% IRR over a nine‑year hold and underscores pricing strength for infill LA‑basin land. Large‑parcel transactions like this keep the premium on scarce redevelopment sites near port and labor nodes. (stocktitan.net)
Terreno’s investor release confirmed the disposition was executed on March 18, 2026 and the company’s statement did not identify the purchaser. (investors.terreno.com) The firm originally acquired the site on December 15, 2017 for about $37.6 million, a purchase contemporaneously reported as roughly $163 per square foot by CoStar. (investors.terreno.com) Terreno announced the site’s redevelopment on January 23, 2024, calling for demolition of the existing structures and delivery of three new industrial buildings totaling roughly 228,000 square feet with LEED objectives. (businesswire.com) Trade reporting lists project specifications of 34 dock‑high doors, 17 grade‑level doors, 332 parking stalls and an incremental development budget in the neighborhood of $64.0 million, with an expected delivery window around 2027. (commercialsearch.com) A City of Gardena CEQA filing (Notice of Exemption, SCH No. 2025070773) filed July 2025 records an alternate plan showing four multi‑tenant buildings totaling 223,509 square feet. (ceqanet.lci.ca.gov) Public property listings and parcel records identify the site as 1855 W. 139th Street in Gardena, positioned south of I‑105 and between I‑405 and I‑110 in the Gardena/Hawthorne industrial submarket. (loopnet.com)
