Terreno Realty Corporation Acquires Property in Hawthorne, CA for $8.1 Million
Terreno Realty Corporation (NYSE:TRNO) acquired a 22,000 square foot industrial property in Hawthorne, California for approximately $8.1 million on July 14, 2021. The property, located on 1.6 acres at 13020 and 13030 Cerise Avenue, is fully leased to two tenants, both with leases expiring by October 2025. The estimated stabilized cap rate for this acquisition is 5.4%, calculated based on annualized cash basis net operating income at market occupancy. Terreno operates industrial real estate in six major coastal U.S. markets.
- Acquisition of a fully leased property, enhancing income stability.
- Estimated stabilized cap rate of 5.4%, indicating potential profitability.
- Strategically located property in a key industrial area of California.
- None.
Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property located in Hawthorne, California on July 14, 2021 for a purchase price of approximately
The property consists of two industrial distribution buildings containing approximately 22,000 square feet on 1.6 acres. The property is at 13020 and 13030 Cerise Avenue, south of I-105 and between I-405 and I-110, provides two grade-level loading positions and parking for 64 cars. The property is
Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally
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.
Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. We caution investors that forward-looking statements are based on management’s beliefs and on assumptions made by, and information currently available to, management. When used, the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “result,” “should,” “will,” “seek,” “target,” “see,” “likely,” “position,” “opportunity,” “outlook,” “potential,” “enthusiastic,” “future” and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control, including risks related to our ability to meet our estimated forecasts related to stabilized cap rates, the impact of the COVID-19 pandemic on our business, our tenants and the national and local economies, and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2020 and our other public filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Accordingly, investors should use caution in relying on past forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends.
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FAQ
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