JESSUP, MD-Terreno Realty Corp., headquartered in San Francisco, has acquired an industrial property here for approximately $6 million.
The property, located at 8215 Dorsey Run Rd., is a single 88,000-square foot industrial distribution building on 5.9 acres adjacent to Highway 1 and Route 32, featuring a 12 dock-high, 2 grade level and 10 van loading positions. It is 100% leased to one tenant. The estimated stabilized cap rate of the property is 6.7%.
Terreno Realty Corp. focuses on six industrial markets on the coastal areas: Los Angeles; Northern New Jersey/New York City; the San Francisco Bay Area; Seattle; Miami; and Washington, D.C./Baltimore.
Locally it owns seven assets, not including this latest acquisition. These properties include 8441 Dorsey Run Rd. in Jessup—very close to its latest purchase; 8730 Bollman Pl., in Savage, MD; 45201 Global Plaza, in Sterling, VA; 7125 Troy Hill Dr., in Elkridge, MD; 14851 Sweitzer Lane in Laurel, MD; and 6675 Amberton Road & 660 Santa Barbara Road, in Elkridge, MD.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
