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Seattle & Northwest  + Seattle  + Industrial  | 

Terreno Adds Woodinville Industrial Portfolio for $233M

Bellevue, WA-based industrial REIT Terreno Realty Corporation has acquired a portfolio of industrial properties located in Woodinville, WA for approximately $232.6 million in what is reportedly King County’s largest real estate deal year to date. The Puget Sound Business Journal reported that the seller in the off-market deal was Blackstone’s Link Logistics.

The portfolio consists of nine industrial distribution buildings containing approximately 720,000 square feet on 42.8 acres. The properties are on Woodinville-Redmond Road and are approximately 91% leased to 26 tenants.

The portfolio is part of a multi-market portfolio of approximately 1.2 million square feet, including two buildings in Miami and one building in Northern New Jersey for a total expected purchase price of $426.9 million. Terreno expects to close on the remainder of the multi-market portfolio in September 2025. The estimated stabilized cap rate of the multi-market portfolio is 5.0%.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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