Terreno Realty Expands Portfolio With Property Buyout in Redmond

As part of its acquisition-driven growth strategy, Terreno Realty (TRNO) recently announced the acquisition of an industrial property in Redmond, WA, for $9.3 million. The transaction marks an estimated stabilized cap rate after renovation of 5.5%.Located at 9660 153rd Avenue NE on Seattle’s Eastside, the property comprises one industrial distribution building containing roughly 33,000 square feet on 1.5 acres. While the property is fully leased on a short-term basis, it will undergo renovation after the ex ...