CAPRE’s Commercial Real Estate Headlines for December 31, 2019

Check out the latest deals and developments in commercial real estate for December 31, 2019: Terreno Realty Corporation Acquires Property in Puyallup, WA for $6.7 Million USD: 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 Puyallup, Washington on December 19, 2019 for a purchase price of approximately $6.7 million USD. The property consists of one industrial distribution building containing approximately 41,000 square feet on approximately 2.3 acres less than four miles from the Port of Tacoma. The property, at 917 Valley Avenue NW, provides ten dock-high and four grade-level loading positions, parking for 50 cars and is 100% leased to two tenants. The estimated stabilized cap rate of the property is 5.4%. 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: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C. Greystar Acquires 412-Unit Multifamily Property in Phoenix: Greystar Real Estate Partners has nnounced the acquisition of the 412-unit Desert View Apartments in…