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CARLSTADT, N.J. — Terreno Realty Corp. has acquired two industrial properties in Carlstadt for $9.9 million. Situated on 3.2 acres in the central Meadowlands submarket, the two industrial properties total 90,000 square feet. The 22,000-square-foot building is fully leased to one tenant and is located at 465 Meadow Lane. The 68,000-square-foot property, located at 341 Michele Place, is 95.6 percent leased to two tenants. The estimated capitalization rate of the properties is 5.7 percent. Terreno Realty Corp. is an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets — Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, D.C./Baltimore.