Terreno Realty Acquires Maryland Industrial Property For About $50 Mln

(RTTNews) - Terreno Realty Corp. (TRNO) on Friday acquired an industrial property in Hyattsville, Maryland, for about $50 million.

This site features a 180,000-square-foot distribution building that loads from the rear, sitting on 14.1 acres conveniently close to major highways just outside of Washington, D.C.

The company is looking at a total investment of around $57.6 million, with a projected stabilized cap rate of 5.2 percent. Terreno Realty operates industrial real estate in six key coastal markets across the U.S.

TRNO is currently trading at $62.33, down $0.09 or 0.14 percent on the New York Stock Exchange.