Terreno Realty Corporation Acquires Property in Washington, D.C. for $7.6 Million
Terreno Realty (NYSE:TRNO) has acquired an industrial property in Washington, D.C. for $7.6 million. The property, located at 3000 V Street NE, consists of a 26,000 square foot industrial distribution building on 0.7 acres. It features four dock-high and one grade-level loading positions, along with parking for 16 cars. The property is currently vacant, with an estimated stabilized cap rate of 5.6%. This acquisition expands Terreno's presence in the area, as it is adjacent to two existing Terreno buildings on V Street. Terreno Realty specializes in acquiring, owning, and operating industrial real estate in six major coastal U.S. markets.
Terreno Realty (NYSE:TRNO) ha acquistato un immobile industriale a Washington, D.C. per 7,6 milioni di dollari. La proprietà, situata al 3000 di V Street NE, è composta da un edificio industriale di distribuzione di 26.000 piedi quadrati su 0,7 acri. Dispone di quattro posizioni di carico a livello del dock e una a livello strada, insieme a un parcheggio per 16 auto. Attualmente, la proprietà è vuota, con un tasso di capitalizzazione stabilizzato stimato del 5,6%. Questa acquisizione espande la presenza di Terreno nella zona, in quanto è adiacente a due edifici esistenti di Terreno su V Street. Terreno Realty si specializza nell'acquisto, possesso e gestione di immobili industriali in sei principali mercati costieri degli Stati Uniti.
Terreno Realty (NYSE:TRNO) ha adquirido una propiedad industrial en Washington, D.C. por 7.6 millones de dólares. La propiedad, ubicada en 3000 V Street NE, consiste en un edificio industrial de distribución de 26,000 pies cuadrados en 0.7 acres. Cuenta con cuatro posiciones de carga a nivel de muelle y una a nivel de calle, además de estacionamiento para 16 vehículos. Actualmente, la propiedad está vacante, con una tasa de capitalización estabilizada estimada del 5.6%. Esta adquisición amplía la presencia de Terreno en el área, ya que está adyacente a dos edificios existentes de Terreno en V Street. Terreno Realty se especializa en adquirir, poseer y operar bienes raíces industriales en seis importantes mercados costeros de EE. UU.
Terreno Realty (NYSE:TRNO)는 워싱턴 D.C.의 산업 부동산을 760만 달러에 인수했습니다. 이 부동산은 3000 V Street NE에 위치하며, 0.7 에이커 면적에 26,000 제곱피트의 산업 유통 건물로 구성되어 있습니다. 이 건물에는 4개의 도크 높이 하역 위치와 1개의 일반 하역 위치가 있으며, 16대의 차량을 주차할 수 있는 공간이 있습니다. 현재 이 부동산은 비어 있습니다, 추정 안정화 수익률은 5.6%입니다. 이 인수는 Terreno의 지역 내 존재감을 확장시켜 주며, V Street에 위치한 기존 Terreno 건물 2개와 인접해 있습니다. Terreno Realty는 미국의 6대 해안 시장에서 산업 부동산을 인수, 소유 및 운영하는 전문 기업입니다.
Terreno Realty (NYSE:TRNO) a acquis une propriété industrielle à Washington, D.C. pour 7,6 millions de dollars. La propriété, située au 3000 V Street NE, se compose d'un bâtiment de distribution industrielle de 26 000 pieds carrés sur 0,7 acres. Elle dispose de quatre quais de chargement de niveau de quai et d'un quai de chargement de niveau de rue, ainsi que d'un stationnement pour 16 voitures. La propriété est actuellement vacante, avec un taux de capitalisation stabilisé estimé à 5,6%. Cette acquisition élargit la présence de Terreno dans la région, car elle est adjacent à deux bâtiments Terreno existants sur V Street. Terreno Realty se spécialise dans l'acquisition, la possession et l'exploitation de biens immobiliers industriels dans six grands marchés côtiers aux États-Unis.
Terreno Realty (NYSE:TRNO) hat eine Industrieimmobilie in Washington, D.C. für 7,6 Millionen Dollar erworben. Die Immobilie, gelegen in 3000 V Street NE, besteht aus einem 26.000 Quadratfuß großen Industrie-Distributionsgebäude auf 0,7 Acres. Es verfügt über vier Ladepositionen auf Dockhöhe und eine auf Straßenniveau sowie Parkmöglichkeiten für 16 Autos. Die Immobilie ist derzeit frei, mit einer geschätzten stabilisierten Kapitalrendite von 5,6%. Diese Übernahme erweitert die Präsenz von Terreno in der Region, da sie an zwei bestehende Terreno-Gebäude in der V Street angrenzt. Terreno Realty spezialisiert sich auf den Erwerb, Besitz und Betrieb von Industrieimmobilien in sechs großen Küstenmärkten der USA.
- Expansion of property portfolio in Washington, D.C.
- Strategic location adjacent to existing Terreno properties
- Potential for value addition through leasing the vacant space
- Property currently vacant, requiring leasing efforts
- Relatively low estimated stabilized cap rate of 5.6%
Insights
Terreno Realty's
The estimated stabilized cap rate of
The newly acquired property's features are well-suited for modern logistics operations. With four dock-high and one grade-level loading positions, it offers flexibility for various truck types and efficient loading/unloading. The parking for 16 cars is adequate for staff but may limit on-site fleet parking.
The strategic location between two existing Terreno properties could enable the creation of a logistics cluster, potentially improving operational efficiency and allowing for shared resources. However, the relatively small size (26,000 sq ft) may limit its use to smaller-scale distribution or last-mile delivery operations. The property's vacancy presents an opportunity for Terreno to customize the space for a specific tenant's needs, potentially commanding higher rents in this competitive market.
The property consists of one industrial distribution building containing approximately 26,000 square feet on 0.7 acres. The property is at 3000 V Street NE, immediately adjacent to and between two existing Terreno Realty Corporation buildings on V Street, provides four dock-high and one grade-level loading positions and parking for 16 cars. The property is vacant and the estimated stabilized cap rate is
Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally
Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal
Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.
Forward-Looking Statements
This 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’s beliefs and on assumptions made by, and information currently available to, management. When used, the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “result,” “should,” “will,” “seek,” “target,” “see,” “likely,” “position,” “opportunity,” “outlook,” “potential,” “enthusiastic,” “future” 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, and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2023 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240726058441/en/
Jaime Cannon
415-655-4580
Source: Terreno Realty Corporation
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