US industrial real estate investor Terreno Realty Corporation has acquired a $232.6m (€198.7m) portfolio in Woodinville, Washington.
Terreno said it has acquired nine industrial distribution buildings on Woodinville-Redmond Road containing approximately 720,000sqft on 42.8 acres.
Terreno said the acquired assets represents the first part of a 1.2m sqft portfolio, which also includes two buildings in Miami and one in Northern New Jersey, and has a total expected purchase price of $426.9m.
The remainder of the portfolio is expected to be purchased by Terreno next month.
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