By Joshua Burd
Terreno Realty Corp. has acquired a small industrial property in Franklin for $9.1 million.
The San Francisco-based real estate investment trust said its newest property, an 86,000-square-foot distribution building, is located at 70 Schoolhouse Road in the township’s Somerset section. The property includes 12 dock-high and one grade-level loading positions, parking for 61 cars and is fully occupied by one tenant.
Terreno acquires, owns and operates industrial real estate in northern New Jersey and New York City, along with five other major coastal U.S. markets, the REIT said in a news release.