**Terreno Acquires Woodinville Industrial Portfolio for $233 Million**
Bellevue, WA-based industrial REIT Terreno Realty Corporation has acquired a portfolio of industrial properties in Woodinville, Washington, for approximately $232.6 million. This transaction is reportedly the largest real estate deal in King County so far this year. The off-market deal involved seller Link Logistics, a subsidiary of global investment firm Blackstone, according to the Puget Sound Business Journal.
The newly acquired portfolio comprises nine industrial distribution buildings totaling approximately 720,000 square feet situated on 42.8 acres along Woodinville-Redmond Road. The properties are currently around 91% leased to 26 tenants.
The Woodinville assets are part of a broader multi-market acquisition by Terreno, representing approximately 1.2 million square feet in total. The larger portfolio includes two buildings in Miami and one in Northern New Jersey, with a projected total transaction value of $426.9 million. Terreno anticipates closing on the remaining properties in this portfolio by September 2025. The estimated stabilized capitalization rate for the entire multi-market portfolio stands at 5.0%.
