Key Highlights

  • Terreno acquired an industrial property in Hyattsville, Maryland on November 5, 2026 for approximately $23.1 million.
  • The site includes a 6.1-acre land parcel and a 36,000 square foot building with 17 grade-level loading positions.
  • The property is 100% leased to one tenant.
  • The company's estimated stabilized cap rate for the property is 5.4%.

Terreno Realty Corporation (NYSE:TRNO) announced the Acquisition of an industrial property in Hyattsville, Maryland, on November 5, 2026, for a purchase price of approximately $23.1 million. The company acquires, owns and operates industrial real estate in six major coastal U.S. markets, including New York City and Northern New Jersey, Los Angeles, Miami, the San Francisco Bay Area, Seattle and Washington, D.C. The Hyattsville deal extends its holdings in the Washington region.

Property Details

The property sits on a 6.1-acre improved land parcel with a 36,000 square foot building. The building provides 17 grade-level loading positions, which are the dock doors used for truck deliveries and distribution operations. The site is at 5000 Tuxedo Road, adjacent to Terreno's existing property at 5380 Tuxedo Road, near the intersection of U.S. Route 50 and the Baltimore-Washington Parkway, less than one mile outside Washington, D.C.

The property is fully leased to a single tenant.

The Adjacent Holding and Regional Position

Because the new site sits next to an existing Terreno property, the company will hold two neighboring Assets in the same location.

Terreno describes its strategy as centered on industrial real estate in six major coastal U.S. markets, and the Washington, D.C. area is one of them.

Cap Rate and Acquisition Terms

The company said the estimated stabilized cap rate for the property is 5.4%. It defined the measure as annualized cash basis net operating income, stabilized to market occupancy of generally 95%, divided by total acquisition cost. Total acquisition cost includes the purchase price, the effects of marking any assumed Debt to market, buyer's Due Diligence and closing costs, and estimated near-term capital expenditures and leasing costs needed to reach stabilization.

Because the cap rate is an estimate that depends on stabilization assumptions and the total cost basis, the figure should be read alongside the company's definition rather than as a standalone measure of return.

The property's single-tenant Lease structure means rental income depends on one tenant's performance over the lease term.

Industrial properties with loading positions are typically used for distribution, storage and light industrial activity, and dock capacity is a feature that tenants often consider when selecting a building. The 17 grade-level loading positions on the Hyattsville site describe the building's truck access,

Terreno's Business model centers on owning industrial buildings in dense, coastal markets, where Demand for distribution and logistics space is concentrated near ports and population centers. The company's focus on six markets allows it to build knowledge of local conditions and leasing patterns. The Hyattsville building, located less than a mile outside Washington, D.C. along a major highway corridor, fits that approach by adding to an existing position in the Washington market.

Acquisitions of this size are one way an industrial real estate company expands its holdings, alongside development and leasing of existing space.

The site's 6.1 acres and 36,000-square-foot building give the property a footprint suited to distribution and light industrial users, the tenant group that buildings with grade-level loading positions typically serve. Its location beside an existing Terreno holding also strengthens the company's presence along the Tuxedo Road corridor near Washington.

The Hyattsville purchase reflects the company's focus on single-tenant industrial assets close to major population centers. With the building 100% leased to one tenant, rental income from the property is contracted with that occupier, and the estimated stabilized cap rate of 5.4% reflects the company's assumptions about occupancy and costs at that level.

Final Word

Terreno's Hyattsville purchase adds a single-tenant industrial property next to an existing holding, with the announced price of about $23.1 million and an estimated stabilized cap rate of 5.4%. The acquisition reinforces the company's concentration in six coastal markets, including the Washington area. Future disclosures on leasing, tenancy and property operations will show how the asset performs within the company's portfolio.