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Terreno Realty buys Auburn, Wash., industrial property

Terreno Realty Corp. purchased an industrial building in Auburn, Wash., for about $9.5 million.

The property covers about 70,000 square feet on approximately 3.9 acres at 1620 Industry Dr. SW.

The industrial real estate investment trust said the estimated stabilized capitalization rate of the property, which is fully leased to six tenants, is 5.1%.