Terreno Buys Hyattsville Industrial Site, Plans Interior Fit Out
Terreno Realty Corporation purchased a 180,000 square foot industrial building in Hyattsville for about 50.0 million dollars on December 5, 2025, and will invest roughly 57.6 million dollars to finish interiors with completion expected in early 2027. The deal expands logistics capacity near the Baltimore Washington Parkway and US 50, a development that could affect traffic patterns, local jobs, and the county tax base.
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Terreno Realty Corporation completed an acquisition on December 5, 2025 of a rear load industrial distribution property at 2300 Craftsman Circle in Hyattsville for approximately 50.0 million dollars. The building sits on 14.1 acres about one mile from Washington, D.C. and adjacent to the Baltimore Washington Parkway and US 50. Terreno said the facility is shell complete and that it will permit and construct interior finishes with an expected delivery in early 2027. The company reported total expected investment for completion at roughly 57.6 million dollars, and cited an estimated stabilized cap rate.
The property comprises roughly 180,000 square feet, with 45 dock high loading positions and one grade level loading door. Parking is provided for 156 cars. On a site area of about 614,796 square feet, the building covers approximately 29 percent of the lot, and the parking ratio works out to about 0.87 cars per 1,000 square feet of building area. The additional 7.6 million dollars between purchase price and total investment implies the bulk of remaining spending will fund tenant improvements, permitting, and construction costs.
For Prince George's County residents the transaction is significant because of its location along a major regional corridor. Industrial properties near the capital frequently support last mile delivery, regional distribution, and light manufacturing, and the added dock capacity could attract logistics tenants that generate day shift and night shift employment. Construction activity to finish interiors will create short term jobs and local contracting work. Over time the site could expand the county tax base through higher assessed values and increased business personal property tax, depending on tenant occupancy and operations.
There are also planning and infrastructure implications. Increased truck traffic on US 50 and the Baltimore Washington Parkway may require traffic management and coordination with state and county transportation agencies. Land use officials will watch how conversion to active distribution use affects surrounding neighborhoods and municipal services. The deal reflects a broader market trend of demand for industrial space close to dense urban centers, a pattern that has driven redevelopment of underused sites near major roadways across the region.
