{"id":1004209697,"date":"2018-03-09T04:36:09","date_gmt":"2018-03-09T12:36:09","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004209697"},"modified":"2022-12-08T14:22:51","modified_gmt":"2022-12-08T22:22:51","slug":"terreno-picks-up-seattle-industrial-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/terreno-picks-up-seattle-industrial-asset\/","title":{"rendered":"Terreno Picks Up Seattle Industrial Asset"},"content":{"rendered":"<p>By Jeff Hamann<\/p>\n<div id=\"attachment_1004209706\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/4786-First-Avenue-South-in-Seattle.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004209706\" data-attachment-id=\"1004209706\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/terreno-picks-up-seattle-industrial-asset\/4786-first-avenue-south-in-seattle\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/4786-First-Avenue-South-in-Seattle.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Jeffrey Hamann&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1520591415&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"4786 First Ave. South in Seattle\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;4786 First Ave. South in Seattle&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/4786-First-Avenue-South-in-Seattle.jpg?w=800\" class=\"wp-image-1004209706 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/4786-First-Avenue-South-in-Seattle.jpg\" alt=\"4786 First Ave. South in Seattle\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/4786-First-Avenue-South-in-Seattle.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/4786-First-Avenue-South-in-Seattle.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/4786-First-Avenue-South-in-Seattle.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004209706\" class=\"wp-caption-text\">4786 First Ave. South in Seattle<\/p><\/div>\n<p>Terreno Realty Corp. has purchased a 235,000-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/terreno-realty-lands-seattle-distribution-building\/\">industrial property in southern Seattle<\/a> from a group of private investors. According to public records, the building was acquired for $34 million. The stabilized cap rate of the asset is an estimated 5.1 percent. The new owner anticipates the total cost of the transaction\u2014including future renovations, closing costs, due diligence, leasing costs and marking assumed debt to market\u2014to be approximately $42 million.<\/p>\n<p>Located at 4786 First Ave. South, the property is situated next to an entrance of Union Pacific Railroad\u2019s intermodal facility. The asset additionally sits within a mile and a half of Interstate 5, enabling access to downtown Seattle, four miles to the north.<\/p>\n<p>The building was 65 percent leased to three tenants at the time of the sale, including a Sears and Custom Delivery. The property features 29 loading docks and two drive-in doors, along with 71 parking spaces. Sears will vacate their part of the structure in the near future, per a lease termination agreement recorded with King County.<\/p>\n<p><em>Image via Google Maps<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The new owner plans to renovate the 235,000-square-foot warehouse. The building, which is 65 percent leased, is situated next to Union Pacific Railroad\u2019s intermodal facility.<\/p>\n","protected":false},"author":861,"featured_media":1004209706,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,21742,1610,15],"tags":[36351,38719,33863],"class_list":["post-1004209697","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-latest","category-seattle","category-west","tag-capital-improvement","tag-sears","tag-terreno-realty-corporation"],"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 Picks Up Seattle Industrial Asset - 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-picks-up-seattle-industrial-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Terreno Picks Up Seattle Industrial Asset\" \/>\n<meta property=\"og:description\" content=\"The new owner plans to renovate the 235,000-square-foot warehouse. The building, which is 65 percent leased, is situated next to Union Pacific Railroad\u2019s intermodal facility.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/terreno-picks-up-seattle-industrial-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-03-09T12:36:09+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T22:22:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/4786-First-Avenue-South-in-Seattle.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jeff Hamann\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/terreno-picks-up-seattle-industrial-asset\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/terreno-picks-up-seattle-industrial-asset\\\/\"},\"author\":{\"name\":\"Jeff Hamann\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/9dada606742ec2aa010683bdabf468f4\"},\"headline\":\"Terreno Picks Up Seattle Industrial Asset\",\"datePublished\":\"2018-03-09T12:36:09+00:00\",\"dateModified\":\"2022-12-08T22:22:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/terreno-picks-up-seattle-industrial-asset\\\/\"},\"wordCount\":189,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/terreno-picks-up-seattle-industrial-asset\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/03\\\/4786-First-Avenue-South-in-Seattle.jpg\",\"keywords\":[\"Capital improvement\",\"Sears\",\"Terreno Realty Corporation\"],\"articleSection\":[\"Deals\",\"Industrial\",\"Investment\",\"News\",\"Seattle\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/terreno-picks-up-seattle-industrial-asset\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/terreno-picks-up-seattle-industrial-asset\\\/\",\"name\":\"Terreno Picks Up Seattle Industrial Asset - 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