San Francisco-based Terreno Realty Corp. this week bought its fifth industrial property in five years in Kent.
Terreno purchased for $11.2 million an industrial property at 8420 S. 190th St., according to a company media release. The property consists of one industrial distribution building containing approximately 115,000 square feet on approximately 6.3 acres in the northern Kent Valley. The property provides 14 dock-high and two grade-level loading positions, parking for 62 cars and is 100 percent leased to two tenants.
Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer’s due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.
The previous industrial property buys include 107,000 square feet for about $9.2 million and 32,000 square feet for $2.8 million in 2014, 169,000 square feet in 2012 for approximately $15 million and 138,000 square feet for $8.3 million in 2010.
Terreno is an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets: 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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