AN FRANCISCO--(BUSINESS WIRE)--Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired Hampton Overlook, an industrial property located in Capitol Heights, Maryland on August 4, 2016 for a purchase price of approximately $14.1 million.

The property consists of two industrial distribution buildings and one light industrial flex building containing approximately 135,000 square feet on 12.1 acres inside the Capital Beltway (I-95) at MD State Route 214. The property is at 9150-9250 Hampton Overlook, provides 31 dock-high and 11 grade-level loading positions and is 81% leased to nine tenants. The estimated stabilized cap rate of the property is 6.9%.

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./Baltimore.

Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.