Terreno Realty Corp. has acquired an industrial property located in Alexandria, Va., for $84.3 million.
The property consists of four industrial distribution buildings of approximately 357,000 square feet on 19.1 acres. The property is at 6584-6674 Fleet Drive about two miles from the intersection of Interstates 95/395 and I-495 (Capital Beltway), provides 67 dock-high and 38 grade-level loading positions and parking for 580 cars. The property is 100 percent leased to 21 tenants, with all leases expiring by 2031, and the estimated stabilized cap rate is 5.3 percent.
