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.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.