09:49 AM EST, 02/14/2025 (MT Newswires) -- Terreno Realty ( TRNO ) said Friday it has completed the redevelopment of a Santa Ana, California, property.

The company said it has converted the 4.9-acre property from three multi-tenant office buildings into a 92,000-square-foot rear-load industrial distribution facility, for a total investment of $41.3 million.

The redeveloped property is fully leased to an unnamed provider of temperature-controlled life sciences supply chain solutions, with an estimated stabilized cap rate of 5.1%, the company said.

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