Terreno Realty Corporation Acquires Buildings in Kent for $15.0 Million

Terreno Realty Corporation TRNO acquired an industrial property located in Kent, Washington on December 30, 2011 for a purchase price of approximately $15.0 million. The property consists of two multi tenant industrial buildings containing approximately 169,000 square feet. The property is currently 85% leased to six tenants and is located in the heart of the Kent Valley less than five miles from Seattle-Tacoma International Airport and accessible directly via both West Valley Highway and 64th Avenue South. The estimated stabilized cap rate of the property is 6.0%.