Terreno Realty Corporation Acquires Property in Landover, MD for $77.1 Million
Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property located in Landover, Maryland on June 16, 2026 for a purchase price of approximately $77.1 million.
The property consists of three industrial distribution buildings containing approximately 305,000 square feet on 24.0 acres. The property is at 3100-3300 Hubbard Road, adjacent to U.S. Route 50 approximately three miles outside Washington, D.C., and provides 49 dock-high and nine grade-level loading positions and parking for 417 cars. The property is 92% leased to nine tenants. The estimated stabilized cap rate is 5.5%.
Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer’s due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.
Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle and Washington, D.C.
