Terreno Realty Offloads East Rutherford Warehouse in $25 Million Deal

October 22, 2026 - 18:54

Terreno Realty Corp. has completed the sale of an 86,000-square-foot warehouse in East Rutherford for $25 million, according to a statement from the company. The buyer is a local operator that intends to expand its footprint at the site.

The transaction values the property at roughly $291 per square foot. The building sits in one of northern New Jersey's most active industrial corridors, where demand for last-mile distribution space has kept vacancy rates low and pushed rents higher in recent years.

Terreno, a real estate investment trust focused on industrial properties in major coastal markets, has been pruning assets that no longer fit its long-term hold strategy. Proceeds from the sale are expected to be recycled into acquisitions or development projects in other target markets.

The buyer's expansion plans suggest continued confidence in the Meadowlands submarket, which benefits from proximity to the Port of New York and New Jersey, major highways and a dense population base. Industrial properties in the area have drawn steady interest from both institutional investors and regional operators looking to secure space close to customers.

The deal closed after a marketing period that drew multiple offers, though the company did not disclose further terms. Neither party provided a timeline for the buyer's planned expansion.