Terreno Realty Acquires Building in Seattle

Terreno Realty, an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, said Monday morning that it has acquired an industrial property located in Seattle, Washington for $4.0 million.

The property consists of one industrial trans-shipment building containing 13,000 square feet on 1.4 acres adjacent to Seattle’s Port and SoDo district. The property is at 53 S Dawson Street, provides 12 dock-high and three grade-level loading positions, and is 100% leased to one tenant through February 2019. The estimated stabilized cap rate of the property is 2.8%.

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