{"id":1004562115,"date":"2021-12-28T11:30:51","date_gmt":"2021-12-28T19:30:51","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004562115"},"modified":"2022-12-08T14:54:17","modified_gmt":"2022-12-08T22:54:17","slug":"terreno-realty-expands-seattle-area-footprint","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/terreno-realty-expands-seattle-area-footprint\/","title":{"rendered":"Terreno Realty Expands Seattle-Area Footprint"},"content":{"rendered":"
\"16650-16750<\/a>

16650-16750 Woodinville Redmond Road. Image via Google Earth<\/p><\/div>\n

Feeling no end-of-year malaise, Terreno Realty Corp. continues its buying binge with the acquisition of 16650-16750 Woodinville Redmond Road, a two-building industrial asset encompassing 118,000 square feet in Woodinville, Wash. Terreno purchased the Seattle-area property, which is 100 percent leased, from Woodinville CD LLC in a transaction valued at $33.5 million. The purchase marks the company’s fifth acquisition this month.<\/p>\n

Also known as Buildings C and D, 16650-16750 Woodinville opened in 1999 on a 9.6-acre site near the intersection of Interstate 405 and State Route 522 within close proximity of the Sammamish River. The buildings are also immediately adjacent to two facilities, 16224-16240 Woodinville Redmond Road, which Terreno had acquired in October 2021 for $23.6 million.<\/p>\n

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READ ALSO<\/strong>: What to Expect From the Industrial Sector in 2022<\/a><\/p>\n

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16650-16750 Woodinville offer 27 dock-high and eight grade-level loading positions, as well as parking accommodations for 291 vehicles. Four businesses call the distribution facilities home today, including energy drink company Zipfizz and Superior Cleaning & Coit Cleaning and Restoration.<\/p>\n

Packing a portfolio<\/strong><\/h2>\n

Terreno, which focuses on acquiring and operating industrial assets exclusively in six major coastal U.S. markets, has been quite acquisitive throughout 2021<\/a>, purchasing a mix of core and value-add assets at every turn in today’s highly competitive industrial investment sales climate. The company seems on track with the vision it had at the beginning of the year.<\/p>\n

“We see attractive acquisition opportunities and expect our 2021 acquisition volume to exceed that of 2020, perhaps significantly so,” Blake Baird and Michael Coke, co-founders of Terreno Realty Corp., wrote in the annual letter to shareholders dated March 2, 2021.<\/p>\n

In the fourth quarter alone, Terreno has averaged more than one acquisition per week. Notable transactions include the $74.1 million purchase of 4181-4241 West 108th St. in Hialeah, Fla., a two-building, 402,000-square-foot asset in metropolitan Miami, and the $60.8 million acquisition of 5150-5236 Eisenhower Ave., a 199,000-square-foot, suburban Washington, D.C., complex in Alexandria, Va.<\/p>\n

“Within our six markets, we have increasingly focused on urban infill locations. While our net growth will remain limited to a size where we can make directly informed operational decisions, we feel more strongly today than we did 11 years ago about the long-term investment merits of our strategy and the growth opportunities ahead,” Baird and Coke added in the shareholder letter.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company has acquired a new property in Woodinville, Wash.<\/p>\n","protected":false},"author":969,"featured_media":1004562144,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,21742,1610,15],"tags":[33863],"class_list":["post-1004562115","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest","category-seattle","category-west","tag-terreno-realty-corporation"],"acf":[],"yoast_head":"\nTerreno Realty Expands Seattle-Area Footprint - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Terreno Realty Corp. continues its buying binge with the acquisition of 16650-16750 Woodinville Redmond Road, a two-building industrial asset encompassing 118,000 square feet in Woodinville, Wash.\" \/>\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-expands-seattle-area-footprint\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Terreno Realty Expands Seattle-Area Footprint\" \/>\n<meta property=\"og:description\" content=\"Terreno Realty Corp. continues its buying binge with the acquisition of 16650-16750 Woodinville Redmond Road, a two-building industrial asset encompassing 118,000 square feet in Woodinville, Wash.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/terreno-realty-expands-seattle-area-footprint\/\" \/>\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=\"2021-12-28T19:30:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T22:54:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/12\/16650-16750-Woodinville-Redmond-Road-Woodinville-Wash...jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"769\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/terreno-realty-expands-seattle-area-footprint\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/terreno-realty-expands-seattle-area-footprint\/\",\"name\":\"Terreno Realty Expands Seattle-Area Footprint - 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