Terreno Realty Acquires 3-Building Maryland Industrial Asset

Terreno Realty Corp. has acquired a three-building, 305,000-square-foot industrial property in Landover, Md., for $77.1 million. The seller was not disclosed, but the previous owner was Clarion Partners, according to Yardi Matrix, which shows the name of the asset as Washington Commerce Center.

The property consists of three distribution buildings on 24 acres. It provides 49 dock-high and nine grade-level loading positions, along with parking for 417 cars. The property is 92 percent leased to nine tenants, and Terreno estimates the stabilized cap rate at 5.5 percent.

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READ ALSO: May 2026 National Industrial Report

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Completed in 1988, Buildings E and F total 178,900 square feet, and tenants include MedStar Health, Catholic Charities and US Express. Building G was completed in 1990 and is 125,100 square feet, with tenants including the Museum Resource Center and U.S. General Services Administration.

The site is at 3100–3300 Hubbard Road, adjacent to U.S. Route 50 and about three miles outside Washington, D.C.

Strong showing in Prince George’s County

In contrast to suburban Maryland overall, the average industrial vacancy in Prince George’s County declined in the first quarter by 80 basis points to 6.6 percent, according to a report from CBRE.

Prince George’s County experienced the majority of occupancy gains in suburban Maryland—with 725,000 square feet of gross leasing—including Southland Industries moving into a 400,000-square-foot space at Elion Logistics Park DC, in Brandywine.

In June 2025, Galvanize Real Estate acquired a five-property, 680,000-square-foot industrial portfolio across Maryland, between Baltimore and Washington, D.C. The seller and the transaction’s dollar value were not disclosed.

The properties are along the Interstate 95 corridor in Howard County, Md., and near the Interstate 495 Capital Beltway in Prince George’s County, Md.