Terreno Realty Acquires Building

Terreno Realty, 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 10, for $3.7 million. The property consists of one industrial distribution building containing 22,000 square feet on 0.7 acres.

The property is at 2920 V Street NE, one block from New York Avenue/Route 50 in the northeastern section of the District of Columbia and adjacent to Terreno Realty’s V Street Gateway Business Park. The property provides four dock-high and one grade-level loading positions, parking for 11 cars and is vacant. The estimated stabilized cap rate of the property is 5.0%.

By Bryan Smith