Terreno Disposes of MD Industrial Building
The firm sold its 139,000-square-foot asset in Capitol Heights for $20.3 million, which it originally acquired in 2014.
By IvyLee Rosario
1000 Hampton Park Blvd., Capitol Heights, Md.
After selling a 135,000-square-foot industrial property in Jessup, Md., for $11.5 million, Terreno Realty Corp. has disposed of another industrial property, this time in Capitol Heights, Md. for $20.3 million.
The building features 139,000 square feet of space situated on 7.7 acres at 1000 Hampton Park Blvd. The property is currently 44 percent leased to one tenant. The firm purchased the asset back in May of 2014 for $18.1 million. The estimated unleveraged internal rate of return generated from the investment was 6.9 percent.
Terreno acquires, owns and operates industrial real estate in the major markets of Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, D.C.
Image courtesy of Google Street View
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