ELKRIDGE, MD-Terreno Realty Corp., based in San Francisco, has acquired two multi-tenant industrial distribution buildings here for $16.7 million.
The two buildings at 6675 Amberton Drive and 6660 Santa Barbara Road are 64% leased to seven tenants. The properties total approximately 349,000 square feet and are located on about 18 acres. The estimated stabilized cap rate of the property is 8.0%.
Terreno is an acquirer, owner and operator of industrial real estate in six coastal U.S. markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C./Baltimore. Last month, the company acquired a portfolio of six buildings containing approximately 307,000 square feet in Doral, FL for approximately $23.7 million.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
