Terreno Realty (TRNO) said Friday it acquired an industrial property in Hyattsville, Maryland, for about $50 million.
The property consists of a shell-complete, rear-load industrial distribution building with about 180,000 square feet on 14.1 acres, and provides 45 dock-high and one grade-level loading positions and parking for 156 cars, the company said.
Terreno said it plans to construct interior finishes and target completion in early 2027. Total expected investment is $57.6 million with an estimated stabilized cap rate of 5.2%, the company added.