CAPITOL HEIGHTS, MD—San Francisco-based Terreno Realty Corp. has acquired an industrial asset here for approximately $18.1 million.
The industrial distribution building is about 139,000 square feet, sited on 7.7 acres, adjacent to the Capital Beltway and approximately four miles east of Washington, DC. It is located at 1000 Hampton Park Blvd., featuring 18 dock-high and two grade-level loading positions, parking for 210 cars and 32 foot clear height. It is 100% leased to one tenant. The estimated stabilized cap rate of the property is 6.4%.
The Washington DC/ Baltimore area is one of six regions of the country in which the REIT is focusing, the others being Los Angeles, Northern New Jersey/New York City, the San Francisco Bay Area, Seattle and Miami.
In the DC area, as of March 31st, it owns 11 buildings totaling 1,176,686 square feet. Its local portfolio is 90.9% occupied.
All together it owns 101 buildings totaling 7.3 million square feet.
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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.
