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Terreno Realty Drawn to DC Metro Industrial Assets to the Tune of $73M
Terreno Realty Corporation has acquired industrial properties in Alexandria, VA and Bladensburg, MD for a total of $72.7 million.
The Alexandra property on Eisenhower Avenue, inside the Capital Beltway, was purchased for $60.8 million. It consists of three industrial distribution buildings containing approximately 199,000 square feet on 9.3 acres and offers 25 dock-high and 15 grade-level loading positions and parking for 216 cars.
The asset is 100% leased to 13 tenants, all of which expire by 2026, and the estimated stabilized cap rate is 3.0%.
The Bladensburg property on 46th Street was purchased for $11.9 million. The 4.4-acre improved land parcel is less than two miles outside Washington, DC and is 100% leased to one tenant through May 2024; the estimated stabilized cap rate is 3.8%.
Terreno Realty Corporation acquires, owns and operates industrial real estate exclusively in the US coastal areas of Los Angeles; Northern NJ/New York City; San Francisco; Seattle; Miami and Washington, DC.
- ◦Sale/Acquisition
