TERRENO REALTY BUYS SHELL WAREHOUSE IN HYATTSVILLE FOR $50M

By Alan Kline – Senior Editor, Washington Business Journal Dec 8, 2025 Updated Dec 8, 2025 9:17am EST

Industrial property investor Terreno Realty Corp. has expanded its D.C.- area portfolio with the acquisition of a 180,000-square-foot shell warehouse in Hyattsville.

Bellevue, Washington-based Terreno (NYSE: TRNO) paid $50 million for the class A property at 2300 Craftsman Circle and intends to invest another $7.6 million to build out the interior, the company said Friday. It expects construction to be completed in early 2027.

The seller was Baltimore-based Atapco Properties, which acquired the property for $15 million in August 2020, according to Prince George’s County property records. The building was assessed at $26.1 million in July.

The rear-load industrial building sits on 14.1 acres near the intersection of the the Baltimore-Washington Parkway and Route 50, about a mile from the D.C. line. It contains 45 loading docks and has parking for 156 cars.

Terreno is a real estate investment trust that acquires and operates industrial properties in six major metropolitan markets: Los Angeles, Miami, New York, San Francisco, Seattle and D.C. As of Sept. 30, it owned more than 300 buildings totaling more than 20 million square feet.

Its acquisition of the Hyattsville property expands its D.C.-area portfolio to 28 buildings totaling just under 2.2 million square feet. In 2024, it acquired the four-building Fleet Industrial Park in Franconia for $83.7 million and in 2023 it bought a newly delivered 33,000-square-foot warehouse on V Street NE in D.C. for $13.4 million.

Its local properties are 96.4% occupied, according to Terreno’s website.