Terreno Realty Buys Washington, D.C., Industrial Property for $115.5M

by Nellie Day

WASHINGTON, D.C. – Terreno Realty Corporation (NYSE:TRNO) has acquired an 820,000-square-foot industrial property in Washington, D.C., for $115.5 million. The 28.2-acre property is located at 3015-3535 V Street.

The facility is situated one block from New York Avenue/Route 50, in the northeastern section of the District of Columbia. It is also near the Amtrak Northeast Corridor, the U.S. National Arboretum and the Anacostia River. Notable tenants in the area include Anchor Construction Corp. and Premium Distributors.

The industrial facility includes 102 dock-high and eight grade-level loading positions, as well as parking for 470 cars. It is currently 87 percent leased to 22 tenants.

The seller was not named. Terreno was represented by James Cassidy of DTZ.

The firm also recently acquired a 107,000-square-foot industrial property in Doral, Fla., for $9.9 million. That property is located at 10100 NW 25th Street, in Miami’s Airport West market.

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

Terreno’s stock price closed at $23.36 per share on Thursday, Jan. 29, up from $22.90 per share a year ago.

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