HANOVER, MD—Terreno Realty Corp. has acquired the industrial building a 7190 Parkway Drive here for approximately $18 million.
The one cross-dock industrial distribution building contains approximately 159,000 square feet on 11.7 acres located approximately three miles from Baltimore/Washington International Airport. The property provides 32 dock-high and two-grade level loading positions, parking for 207 cars, trailer storage and is 100% leased to two tenants.
The estimated stabilized cap rate of the property is 7.1%, according to the San Francisco-based firm.
Terreno Realty is an acquirer, owner and operator of industrial real estate in the Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C./Baltimore markets.