Terreno Realty Buys Property In Redmond For $9.3 Mln

(RTTNews) - Terreno Realty Corporation (TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property located in Redmond, Washington on April 9, 2025 for a purchase price of about $9.3 million.

The property consists of one industrial distribution building containing approximately 33,000 square feet on 1.5 acres. The property is 100% leased on a short-term basis.

After the existing tenant vacates, the property will be renovated to contain approximately 26,000 square feet. The estimated stabilized cap rate after renovation is 5.5%.

Terreno Realty acquires, owns and operates industrial real estate in six major coastal U.S. markets: New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle and Washington, D.C.