27 December 2013
Terreno Realty Corp. (NYSE: TRNO) said it acquired an industrial property located in Landover, Maryland on December 23, 2013 for a purchase price of approximately USD7.0m.
The property consists of one rear-load industrial distribution building containing approximately 71,000 square feet on 4.0 acres. The building is adjacent to the intersection of US Route 50 and I-95/495, the Capital Beltway, approximately 4 miles from Washington, D.C. The building is at 3601 Pennsy Drive and is 100% leased to one tenant. The estimated stabilized cap rate of the property is 5.8%.
Terreno Realty Corp. is an acquirer, owner and operator of industrial real estate in six major coastal US markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C./Baltimore. The company´s website is at www.terreno.com.