Terreno Expands Seattle Portfolio

The company purchased a 13,000-square-foot industrial building, near Seattle’s Port and SoDo district, for a total acquisition cost of $4 million.

53 S. Dawson St., Seattle, Wash.
53 S. Dawson St., Seattle, Wash.

Terreno Realty Corp. continues to expand its Seattle industrial portfolio with the addition of a $4 million property.

Located at 53 S. Dawson St., adjacent to Seattle’s Port and SoDo district, the asset sits on approximately 1.4 acres. The property consists of one industrial trans-shipment building featuring more than 13,000 square feet, 12 dock-high and three grade-level loading positions. 

Single-tenant property

The total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer’s due diligence and the closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization. The property is 100 percent leased to a single tenant.

The company purchases, owns and operates industrial real estate assets in six major coastal U.S. markets including Los Angeles, San Francisco Bay Area, Northern New Jersey/New York City, Seattle, Miami and Washington, D.C.

Image via Google Maps