{"id":1004114331,"date":"2015-02-26T00:00:47","date_gmt":"2015-02-26T08:00:47","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=327741"},"modified":"2022-11-30T16:09:31","modified_gmt":"2022-12-01T00:09:31","slug":"terreno-realty-corporation-pays-10-4m-for-another-industrial-property-in-annapolis-junction-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/terreno-realty-corporation-pays-10-4m-for-another-industrial-property-in-annapolis-junction-2\/","title":{"rendered":"Terreno Realty Corporation Pays $10.4M for Another Industrial Property in Annapolis Junction"},"content":{"rendered":"<p style=\"text-align: justify\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/9070-Junction-Drive.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignright size-medium wp-image-327742\" title=\"9070 Junction Drive\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/9070-Junction-Drive.png\" alt=\"\" width=\"300\" height=\"196\" \/><\/a>Terreno Realty Corporation has acquired another industrial property in the Baltimore\/Washington Corridor. The San Francisco-based company paid approximately $10.4 million for the property at 9070 Junction Drive, in Annapolis Junction.<\/p>\n<p style=\"text-align: justify\">Terreno\u2019s new acquisition consists of one rear-load industrial distribution building, with almost 115,000 square feet of space, on nine acres of land. It provides 25 dock-high and five grade-level loading positions, as well as parking spaces for 178 cars. At the time of the sale, the property was leased to two tenants, with an occupancy of 38%. In a news release, Terreno said the estimated stabilized cap rate of the property is 6.2%.<\/p>\n<p style=\"text-align: justify\"><a href=\"https:\/\/www.propertyshark.com\"><em>PropertyShark<\/em><\/a> reports that Bavar Properties Group LLC, the former owner, purchased the nine-acre property in 1994 for $550,000. The company developed the industrial distribution building in 1997. PropertyShark also says that the current market value of the property is $5.8 million.<\/p>\n<p style=\"text-align: justify\">Terreno started 2015 in full force, with <a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/northeast\/terreno-realty-makes-wise-move-with-industrial-purchase-in-dc\/1004112462.html\"><em>the acquisition<\/em><\/a> of six distribution buildings in Washington, D.C. for approximately $115.5 million, just a few weeks ago. The company owns several other properties in the Washington D.C.\/Baltimore area. Last fall\u00a0<a href=\"https:\/\/www.commercialsearch.com\/news\/cities\/baltimore\/terreno-realty-corporation-buys-annapolis-junction-industrial-property-for-13-8m\/1004108148.html\"><em>it paid $13.8 million<\/em><\/a> for a 97,000-square-foot industrial building also located in Annapolis Junction.<\/p>\n<p style=\"text-align: justify\">According to CBRE\u2019s latest market report, industrial investment sales activity remains very healthy in the Greater Baltimore area, with transaction volume ahead of pre-recession levels. Investors have been more and more willing to take on riskier assets that yield higher returns, so the market has experienced a boost in investment sales volume with capital focused on value-add assets such as Class B product, with bulk, vacant space.<\/p>\n<p style=\"text-align: justify\"><em>Photo credit: <\/em><a href=\"https:\/\/bavarproperties.com\"><em>Bavar Properties Group LLC<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Terreno Realty Corporation has acquired another industrial property in the Baltimore\/Washington Corridor. The San Francisco-based company paid approximately $10.4 million to buy the property at 9070 Junction Drive, in Annapolis Junction. The deal closed on February 19.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1579,21742],"tags":[],"class_list":["post-1004114331","post","type-post","status-publish","format-standard","hentry","category-baltimore","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Terreno Realty Corporation Pays $10.4M for Another Industrial Property in Annapolis Junction - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/terreno-realty-corporation-pays-10-4m-for-another-industrial-property-in-annapolis-junction-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Terreno Realty Corporation Pays $10.4M for Another Industrial Property in Annapolis Junction\" \/>\n<meta property=\"og:description\" content=\"Terreno Realty Corporation has acquired another industrial property in the Baltimore\/Washington Corridor. The San Francisco-based company paid approximately $10.4 million to buy the property at 9070 Junction Drive, in Annapolis Junction. 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