Terreno Realty Corporation Acquires Property in Washington, D.C. for $7.6 Million

Terreno Realty Corporation, an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property located in Washington, D.C. on August 1, 2024 for a purchase price of approximately $7.6 million.

The property consists of one industrial distribution building containing approximately 26,000 square feet on 0.7 acres. The property is at 3000 V Street NE, immediately adjacent to and between two existing Terreno Realty Corporation buildings on V Street, provides four dock-high and one grade-level loading positions and parking for 16 cars. The property is vacant and the estimated stabilized cap rate is 5.6%.

Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer’s due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.

Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Northern New Jersey/New York City, Los Angeles, Miami, San Francisco Bay Area, Seattle and Washington, D.C.

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