News Summary
Terreno Realty Corp. has purchased a 134,000-square-foot industrial building in Santa Ana for $49.5 million. The property, fully occupied by The Home Depot, offers significant logistics capabilities. While the acquisition signals growth for Terreno, the surrounding community faces challenges due to ongoing immigration enforcement actions. The Santa Ana City Council has established an emergency fund to support families affected by these raids as the local Latina community grapples with fear and uncertainty.
Santa Ana – Terreno Realty Corp. has successfully acquired a 134,000-square-foot industrial building in Santa Ana, California, for $49.5 million, or $368 per square foot. The industrial property, located at 3500 W. MacArthur Blvd., is fully occupied by The Home Depot, which serves as the sole tenant.
The building sits on 12.1 acres of industrial zoned land that was constructed in 1990. The Home Depot has been operating at this site since 2006. The facility features seven dock-high and three grade-level loading positions, which facilitate the logistics and distribution operations of the retailer. The estimated stabilized cap rate for the acquisition stands at 5.7%.
The seller of the property was Kimco Realty Corp., a New York-based real estate investment trust. Terreno Realty maintains a diverse portfolio of industrial real estate across six major markets, including Los Angeles, Miami, New York City/Northern New Jersey, San Francisco Bay Area, Seattle, and Washington, D.C. The company owns and operates a total of 298 buildings comprising 19.3 million square feet of space.
In addition to its recent acquisition in Santa Ana, Terreno Realty also holds properties in the area, such as locations at 1720 E. Garry Ave. in Santa Ana and 12 McLaren in Irvine. As of press time, Terreno Realty shares traded at $56.55 on the NYSE, reflecting a market capitalization of $5.8 billion.
The Home Depot continues to perform robustly in the retail sector, reporting net sales of $39.9 billion and net earnings of $3.4 billion in its recent SEC filing for the first quarter. The company is actively monitoring U.S. trade policy, recognizing that tariffs and ongoing trade discussions could impact its future operations. Over the past decade, The Home Depot has focused on diversifying its global supply chain while retaining a significant majority of its operations within the U.S.
The Santa Ana area recently experienced heightened tensions due to federal immigration raids that specifically targeted day laborers in the parking lot of The Home Depot. These actions have resulted in widespread fear within the local community, which is predominantly 77% Latino. Following a raid, one detained individual, a 50-year-old from Peru, was taken into custody but later released after proving his asylum-seeking status. Although day laborers have returned to the area, their numbers have declined due to ongoing fears of apprehension.
In response to the fears stemming from the raids, the Santa Ana City Council has established a $100,000 emergency fund aimed at assisting families impacted by immigration enforcement actions. This initiative was proposed by Mayor Valerie Amezcua to address the basic needs of families left vulnerable after breadwinners were detained. In addition to local support, Santa Ana’s sister city, Sahuayo, Mexico, contributed an additional $50,000 to bolster the emergency fund.
The fund was created promptly, with some resources being redirected from city-sponsored events to address immediate needs. Public protests have recently occurred in connection with the immigration enforcement actions, with one rally attracting as many as 1,000 participants. The Santa Ana Police Department has asserted its compliance with California’s Values Act. As a result, they do not participate in immigration enforcement actions, striving to protect community members amid ongoing concerns surrounding the raids.
The ongoing immigration enforcement actions remain a contentious issue in the Santa Ana community, with operations targeting various locations, including both car washes and parking lots of retail stores like The Home Depot. The situation continues to evolve as both local authorities and residents respond to these developments.
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HERE Resources
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Additional Resources
- Orange County Business Journal
- Los Angeles Times
- Daily News
- Connect CRE
- Google Search: Santa Ana Home Depot immigration raid
Author: STAFF HERE COSTA MESA WRITER
COSTA MESA STAFF WRITER The COSTA MESA STAFF WRITER represents the experienced team at HERECostaMesa.com, your go-to source for actionable local news and information in Costa Mesa, Orange County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the OC Fair, Concerts in the Park, and Fish Fry. Our coverage extends to key organizations like the Costa Mesa Chamber of Commerce and Boys & Girls Clubs of Central Orange Coast, plus leading businesses in retail, fashion, and technology that power the local economy such as Vans, Experian, and South Coast Plaza. As part of the broader HERE network, including HEREAnaheim.com, HEREBeverlyHills.com, HERECoronado.com, HEREHollywood.com, HEREHuntingtonBeach.com, HERELongBeach.com, HERELosAngeles.com, HEREMissionViejo.com, HERESanDiego.com, and HERESantaAna.com, we provide comprehensive, credible insights into California's dynamic landscape.
