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Redmond Industrial Property Trades for $20M
Industrial specialist, Terreno Realty Corporation, has acquired an industrial parcel in Redmond, WA for a purchase price of $20 million. The property is 38% leased to one tenant and the estimated stabilized cap rate is 4.3%.
The 3.5-acre improved land parcel is located at 8660 Willows Rd, within one-half mile from another Terreno Realty property and with convenient access to Interstate 405 and State Route 520.
The West Coast-based Terren Realty Corporation owns and operates industrial assets in six markets, including Los Angeles, New York, San Francisco, Seattle, Miami and Washington, D.C.
- ◦Sale/Acquisition
