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Terreno Acquires Bellevue Property for $6.5M
Terreno Realty Corporation, an acquirer, owner, and operator of industrial real estate, has acquired an industrial property located in Bellevue, Washington, for approximately $6.5 million.
The property comprises one industrial distribution building containing roughly 16,000 square feet on 1.8 acres. The property is at 13045 SE 32nd Street, adjacent to the intersection of I-90 and I-405, and provides three dock-high and two grade-level loading positions and parking for 22 cars. The property is vacant, and the estimated stabilized cap rate is 5.8 percent.
Terreno Realty Corporation operates in six major coastal U.S. markets, and the firm also recently sold an industrial property in Compton for approximately $15.9 million. Terreno owns buildings in Los Angeles, Northern New Jersey, New York City, the San Francisco Bay Area, Seattle, Miami, and Washington, D.C.
