Terreno Agrees to Pay $116M for 820,207 SF DC Industrial Portfolio

V Street Stanley MartinTerreno Realty Corp has entered into an agreement to acquire an industrial property in Washington, D.C. consisting of six buildings totaling 820,207 square feet for $116 million.

The acquisition is scheduled to close on January 15, 2015. The company has made a $2.5 million deposit that may be refunded if Terreno elects to terminate the transaction following the due diligence period ending on January 8, 2015.

Sources say the portfolio is the Stanley Martin commercial portfolio on V Street (pictured) in Washington, DC, which has not been confirmed.

Although there is little information online about the Stanley Martin commercial portfolio, Ali Fardshisheh, the firm’s Vice President, described his company’s Ward 5 properties in a written statement that was entered into testimony on the Ward 5 Industrial Land Transformation Task Force Act of 2012.