Terreno Realty Corporation, a leading acquirer, owner, and operator of industrial real estate properties in major coastal markets across the United States, has recently acquired an industrial property in Bellevue, Washington for approximately $6.5 million.
The newly acquired property consists of a 16,000 square foot distribution building situated on 1.8 acres. Conveniently located at 13045 SE 32nd Street near the intersection of I-90 and I-405 with easy access to three dock-high loading positions and two grade-level loading positions as well as parking for up to 22 cars. Currently vacant but with an estimated stabilized cap rate of 5.8%, this acquisition adds value to Terreno’s diverse portfolio.
In addition to this recent acquisition in Bellevue, Terreno Realty Corporation also recently sold an industrial property in Compton for approximately $15.9 million . The company currently owns buildings throughout Los Angeles , Northern New Jersey , New York City , San Francisco Bay Area , Seattle , Miami and Washington D.C., solidifying its presence as a top player within the industry.
This news was first reported by Connect CRE – your trusted source for all things commercial real estate news.
