Terreno Realty Co. Acquires $8M Industrial Asset
- Feb 07, 2017
Seattle— Terreno Realty Co. recently acquired an industrial property, located in Seattle, for approximately $7.8 million.
The property consists of one industrial distribution building that sits on 1.5 acres and features approximately 45,000 square feet, located at 637 S. Lucile St., adjacent to the Port of Seattle and SoDo districts. The property provides 14 dock-high and two grade-level loading positions and 19 parking spaces. It is 100 percent leased to one tenant on a short-term basis. The estimated stabilized cap rate of the property is six percent.
Terreno 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./Baltimore.
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