Terreno Realty Corporation Announces Lease in Brooklyn, NY

Rhea-AI Summary

Terreno Realty Corporation (NYSE:TRNO) has announced a lease renewal for 46,000 square feet in Brooklyn, New York with a content production studio. This lease will commence on November 1, 2022, and will expire on October 31, 2027. Terreno Realty specializes in acquiring, owning, and operating industrial real estate in six major coastal U.S. markets, including locations such as Los Angeles, New York City, and Miami.

Positive

• Executed a lease renewal for 46,000 square feet, indicating strong demand for industrial space.
• Lease secured with a content production studio, suggesting stable tenant occupancy.

Negative

• None.

BELLEVUE, Wash.--(BUSINESS WIRE)-- Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, announced today that it has executed a lease renewal for 46,000 square feet in Brooklyn, New York with a content production and creation studio. The lease will commence November 1, 2022 and expire October 31, 2027.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220128005463/en/

Jaime Cannon

415-655-4580

Source: Terreno Realty Corporation

FAQ

What is the significance of the lease renewal by Terreno Realty Corporation?

The lease renewal secures 46,000 square feet for five years, indicating tenant stability and demand in the industrial real estate market.

When does the lease for the Brooklyn property commence and expire?

The lease will commence on November 1, 2022, and expire on October 31, 2027.

What markets does Terreno Realty Corporation operate in?

Terreno Realty operates in six major coastal U.S. markets, including Los Angeles, New York City, and Miami.

What type of tenant has signed the lease with Terreno Realty Corporation?

The lease was signed with a content production and creation studio.

What is the stock symbol for Terreno Realty Corporation?

The stock symbol for Terreno Realty Corporation is TRNO.