Terreno Realty Buys Santa Ana Home Depot for $50 Million

Terreno Realty is showing how doers get more done with its acquisition of a Home Depot in Orange County.

The San Francisco-based industrial real estate firm spent $49.5 million for 3500 West Macarthur Boulevard in Santa Ana, L.A. Business First reported.

The 134,000-square-foot store and distribution center contains seven dock-high and three grade-level loading positions as well as a large parking lot for customers and delivery trucks. The 12-acre lot is one block away from the Costa Mesa city limits. Terreno’s plans for the property have not been disclosed.

The deal is the company’s latest efforts in Santa Ana after completing an office redevelopment project in the Orange County city earlier this year. Terreno transformed three multi-tenant office buildings at 1720 East Garry Avenue into a 92,000-square-foot industrial distribution site.

Elsewhere in O.C., Terreno maintains industrial properties at 1160 Fee Ana Street and 3091 East Coronado Street in Anaheim; 1150 and 1250 West Trenton Avenue in Orange; and 12 McLaren in Irvine.

In L.A. County, on June 9, the company announced its acquisition of 11100 Hindry Avenue near Los Angeles International Airport for $10 million.

Last month, Terreno offloaded its Garfield Business Center in Commerce to Palisade Group for $97 million. That property includes a 34,000-square-foot industrial flex building fully leased to four tenants.

Terreno’s most recent California sales were for two industrial properties in the Bay Area. Terreno sold a vacant 66,000-square-foot industrial property in Union City for $16.9 million after purchasing it in 2015 for $7.4 million. It also shed a 22,000-square-foot industrial building in South San Francisco for $8 million that it bought in 2020 for $6.3 million.

Terreno operates in six major coastal markets across the United States, including New York City and northern New Jersey; Los Angeles; Miami; the San Francisco Bay Area; Seattle; and Washington, D.C. The company has offices in Bellevue, Washington; San Francisco; and New York City’s Meatpacking District.

— Chris Malone Méndez