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Terreno Grows Seattle Presence with Redmond Warehouse Deal
Terreno Realty Corporation recently acquired an industrial property located in Redmond, WA for approximately $9.8 million. The seller wasn’t disclosed.
The property consists of two industrial distribution buildings containing approximately 32,000 square feet on 2.0 acres. It is located at 14505-14515 NE 91st St., between I-405 and SR 520 adjacent to Terreno’s property at 9045 Willows Rd. It provides 13 grade-level loading positions and parking for 58 cars. The property is 100% leased to one tenant and the estimated stabilized cap rate is 4.1%.
Headquartered in San Francisco and in Bellevue, WA. Terreno invests in six coastal markets: Los Angeles, the New York/New Jersey metro area, the Bay Area, Seattle, Miami and Washington, DC. Locally, its portfolio spans more than 2.3 million square feet.
- ◦Sale/Acquisition
