{"id":760272,"date":"2023-05-24T10:53:58","date_gmt":"2023-05-24T14:53:58","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/terreno-realty-corporation-acquires-property-in-washington-d-c-for-13-4-million\/"},"modified":"2023-05-24T10:53:58","modified_gmt":"2023-05-24T14:53:58","slug":"terreno-realty-corporation-acquires-property-in-washington-d-c-for-13-4-million","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/terreno-realty-corporation-acquires-property-in-washington-d-c-for-13-4-million\/","title":{"rendered":"Terreno Realty Corporation Acquires Property in Washington, D.C. for $13.4 Million"},"content":{"rendered":"

<\/p>\n

\nTerreno Realty Corporation Acquires Property in Washington, D.C. for $13.4 Million<\/p>\n

BELLEVUE, Wash.–(BUSINESS WIRE<\/a>)–Terreno Realty Corporation<\/b> (NYSE:TRNO), 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 May 23, 2023 for a purchase price of approximately $13.4 million.<\/p>\n

\nThe property consists of one newly constructed industrial distribution building containing approximately 33,000 square feet on 1.3 acres. The property is at 2266 25th Place NE, one-half mile from Terreno Realty Corporation\u2019s V Street portfolio in northeast Washington and U.S. Route 50\/New York Avenue NE, provides two dock-high and five grade-level loading positions and parking for 23 cars. The property is 100% leased and the estimated stabilized cap rate is 5.3%.<\/p>\n

\nEstimated 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\u2019s due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.<\/p>\n

\nTerreno Realty Corporation acquires, owns and operates 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.<\/p>\n

\nAdditional information about Terreno Realty Corporation is available on the company\u2019s web site at www.terreno.com<\/a>.<\/p>\n

\nForward-Looking Statements<\/p>\n

\nThis press release contains forward-looking statements within the meaning of the federal securities laws. We caution investors that forward-looking statements are based on management\u2019s beliefs and on assumptions made by, and information currently available to, management. When used, the words \u201canticipate,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201cmay,\u201d \u201cmight,\u201d \u201cplan,\u201d \u201cproject,\u201d \u201cresult,\u201d \u201cshould,\u201d \u201cwill,\u201d \u201cseek,\u201d \u201ctarget,\u201d \u201csee,\u201d \u201clikely,\u201d \u201cposition,\u201d \u201copportunity,\u201d \u201coutlook,\u201d \u201cpotential,\u201d \u201centhusiastic,\u201d \u201cfuture\u201d and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control, including risks related to our ability to meet our estimated forecasts related to stabilized cap rates, the impact of the COVID-19 pandemic on our business, our tenants and the national and local economies, and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2022 and our other public filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Accordingly, investors should use caution in relying on past forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230522005525\/en\/<\/a><\/span><\/p>\n

\nJaime Cannon
\n
415-655-4580<\/p>\n

KEYWORDS:<\/b> United States North America District of Columbia Washington<\/p>\n

INDUSTRY KEYWORDS:<\/b> Logistics\/Supply Chain Management Other Construction & Property Transport Commercial Building & Real Estate Construction & Property<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
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Terreno Realty Corporation Acquires Property in Washington, D.C. for $13.4 Million BELLEVUE, Wash.–(BUSINESS WIRE)–Terreno Realty Corporation (NYSE:TRNO), 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 May 23, 2023 for a purchase price of approximately $13.4 million. The property consists of one newly constructed industrial distribution building containing approximately 33,000 square feet on 1.3 acres. The property is at 2266 25th Place NE, one-half mile from Terreno Realty Corporation\u2019s V Street portfolio in northeast Washington and U.S. Route 50\/New York Avenue NE, provides two dock-high and five grade-level loading positions and parking for 23 cars. The property is 100% leased and the estimated stabilized cap … <\/p>\n

Continue reading “Terreno Realty Corporation Acquires Property in Washington, D.C. for $13.4 Million”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-760272","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nTerreno Realty Corporation Acquires Property in Washington, D.C. for $13.4 Million - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/terreno-realty-corporation-acquires-property-in-washington-d-c-for-13-4-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Terreno Realty Corporation Acquires Property in Washington, D.C. for $13.4 Million - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Terreno Realty Corporation Acquires Property in Washington, D.C. for $13.4 Million BELLEVUE, Wash.–(BUSINESS WIRE)–Terreno Realty Corporation (NYSE:TRNO), 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 May 23, 2023 for a purchase price of approximately $13.4 million. The property consists of one newly constructed industrial distribution building containing approximately 33,000 square feet on 1.3 acres. The property is at 2266 25th Place NE, one-half mile from Terreno Realty Corporation\u2019s V Street portfolio in northeast Washington and U.S. Route 50\/New York Avenue NE, provides two dock-high and five grade-level loading positions and parking for 23 cars. 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