The industrial real estate buying spree in Kent by San Francisco-based Terreno Realty continues.
The company paid about $14.9 million for 8 acres in the Kent Valley at 20280 84th Ave. S., according to a Terreno media release on Tuesday. Terreno has bought seven industrial properties in five years in Kent.
Terreno, an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, purchased the property that consists of one cross-dock industrial distribution building containing approximately 158,000 square feet. The property provides 22 dock-high loading positions, parking for 181 cars and is 100 percent leased to one tenant on a short-term basis.
Terreno will renovate the property to add additional paved yard for loading and trailer storage and to update the building facade and office.
The company owns industrial real estate in Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C./Baltimore.
For more information, go to terreno.com.
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