**Bellevue-Based Terreno Realty Acquires $194M Industrial Portfolio**
Terreno Realty Corporation, a real estate investment firm based in Bellevue, has announced the acquisition of industrial properties in Florida and New Jersey valued at approximately $194.3 million.
The newly acquired portfolio includes three industrial distribution buildings totaling approximately 509,000 square feet situated on 27.6 acres. Currently, the properties are about 36% leased to five different tenants.
This acquisition is the final component of a multi-market portfolio totaling approximately 1.2 million square feet, bringing the total investment across all properties to $426.9 million. Last month, Terreno purchased the Woodinville, Washington segment of the portfolio, which includes nine industrial distribution buildings spanning around 720,000 square feet on 42.8 acres. The Woodinville properties, located along Woodinville-Redmond Road, are approximately 91% leased to 26 tenants. The estimated stabilized cap rate for the entire multi-market portfolio stands at 5.0%.
Terreno Realty Corporation specializes in the acquisition, ownership, and operation of industrial real estate in six key coastal U.S. markets: New York City and Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C.
