Terreno Realty Buys Property In Washington, D.C. For $13.4M

Terreno Realty Corporation (NYSE:TRNO) has acquired an industrial property in Washington, D.C., for a purchase price of ~$13.4 million.
The property consists of one newly constructed industrial distribution building containing approximately 33,000 square feet on 1.3 acres.
TRNO held cash and equivalents of $11.05 million as of March 31, 2023.
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The property provides two dock-high and five grade-level loading positions and parking for 23 cars and is 100% leased, and the estimated stabilized cap rate is 5.3%.
Price Action: TRNO shares are trading lower by 1.41% at $59.59 on the last check Wednesday.