Terreno Realty Corp. (TRNO) said Monday that it acquired an industrial building containing approximately 110,000 square feet located in Tukwila, Washington on December 14, 2012 for a purchase price of approximately $8.0 million.
As part of the acquisition Terreno Realty Corporation assumed a mortgage loan with a total principal amount of approximately $5.0 million with a fixed annual interest rate of 6.31%. The mortgage loan has a maturity date of July 2016.
The building is at 17600 West Valley Highway in the northern Kent Valley submarket, approximately three miles from Sea-Tac International Airport, adjacent to Interstate Highways 5 and 405 and 100% leased to six tenants. The estimated stabilized cap rate of the property is 6.3%.
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