Terreno Realty Corp. Sells MD Industrial Assets for $51M
The three, 100% leased properties are located in Maryland’s Baltimore/Washington corridor.
HANOVER, MD – Industrial real estate acquirer, owner and operator, Terreno Realty Corp. has sold three industrial properties for a sale price of $51.3 million.
The three properties are each 100% leased and are located in Maryland’s Baltimore/Washington corridor.
The first industrial property, which sold for $9.3 million, is a 66,000-square-foot, rear-load industrial distribution building, situated on four acres of land at 7125 Troy Hill Dr. in Elkridge, MD. The property, which is leased to three tenants, was originally purchased by Terreno Realty Corp. for $6.7 million in 2012.
The second property, which sold for $25.3 million, is a 159,000-square-foot, cross-dock industrial distribution building, situated on 11.7 acres of land at 7190 Parkway Dr. in Hanover, MD. The property is leased to two tenants and was originally purchased by Terreno Realty Corp. in 2014 for $18 million.
The last property disposition comprises the $16.6 million sale of a 115,000-square-foot rear-load industrial distribution building, situated on nine acres of land at 9070 Junction Dr. in Annapolis Junction, MD. Leased to five tenants, the property was originally purchased by Terreno Realty Corp. in 2015 for $10.4 million.