Terreno Realty Corporation Announces Lease in Avenel, NJ
Terreno Realty (NYSE:TRNO) has signed a new lease agreement for an 82,000 square foot industrial property in Avenel, New Jersey with a leading national wholesale tire distributor. The lease will commence on December 31, 2024 and run through January 2030. Terreno operates industrial real estate across six major coastal U.S. markets, including New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C.
Terreno Realty (NYSE:TRNO) ha firmato un nuovo contratto di locazione per una proprietà industriale di 82.000 piedi quadrati ad Avenel, New Jersey con un importante distributore nazionale all'ingrosso di pneumatici. La locazione avrà inizio il 31 dicembre 2024 e durerà fino a gennaio 2030. Terreno gestisce immobili industriali in sei principali mercati costieri degli Stati Uniti, tra cui New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle e Washington, D.C.
Terreno Realty (NYSE:TRNO) ha firmado un nuevo contrato de arrendamiento para una propiedad industrial de 82,000 pies cuadrados en Avenel, Nueva Jersey con un importante distribuidor nacional mayorista de neumáticos. El arrendamiento comenzará el 31 de diciembre de 2024 y se extenderá hasta enero de 2030. Terreno opera bienes raíces industriales en seis importantes mercados costeros de EE. UU., incluyendo la ciudad de Nueva York/Northern New Jersey, Los Ángeles, Miami, el área de la bahía de San Francisco, Seattle y Washington, D.C.
Terreno Realty (NYSE:TRNO)는 82,000 평방 피트 규모의 산업 재산에 대한 새로운 임대 계약을 뉴저지 주 아비넬에서 주요 국가 도매 타이어 유통업체와 체결했습니다. 임대는 2024년 12월 31일에 시작되어 2030년 1월까지 계속됩니다. Terreno는 뉴욕시/북부 뉴저지, 로스앤젤레스, 마이애미, 샌프란시스코 베이 지역, 시애틀 및 워싱턴 D.C.를 포함한 미국의 6개 주요 해안 시장에서 산업 부동산을 운영하고 있습니다.
Terreno Realty (NYSE:TRNO) a signé un nouveau contrat de location pour une propriété industrielle de 82 000 pieds carrés à Avenel, New Jersey avec un important distributeur national de pneumatiques en gros. Le contrat de location commencera le 31 décembre 2024 et se poursuivra jusqu'en janvier 2030. Terreno exploite des biens immobiliers industriels dans six grands marchés côtiers américains, y compris New York City/Northern New Jersey, Los Angeles, Miami, la Baie de San Francisco, Seattle et Washington, D.C.
Terreno Realty (NYSE:TRNO) hat einen neuen Mietvertrag für eine 82.000 Quadratfuß große Industrieimmobilie in Avenel, New Jersey mit einem führenden nationalen Großhändler für Reifen unterzeichnet. Der Mietvertrag beginnt am 31. Dezember 2024 und läuft bis Januar 2030. Terreno betreibt Industrieimmobilien in sechs wichtigen Küstenmärkten der USA, darunter New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle und Washington, D.C.
- Secured long-term lease agreement (5+ years) for 82,000 square feet of industrial space
- Maintains occupancy in key Northern New Jersey market
- None.
Insights
This lease agreement represents a strategic win for Terreno's New Jersey portfolio. The 82,000 square foot commitment from a national tire distributor provides stable, long-term cash flow with a 5-year lease duration. Avenel's location near major transportation routes and the Port of New York/New Jersey makes it an attractive logistics hub. The tenant's profile as a leading national distributor suggests strong covenant quality, though specific lease terms and rates aren't disclosed to fully assess the financial impact. While positive, this single lease in Terreno's extensive coastal market portfolio represents an incremental rather than transformative development.
Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal
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 and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2023 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241121208957/en/
Jaime Cannon
415-655-4580
Source: Terreno Realty Corporation
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