Terreno Realty Corporation Announces Lease in Carlstadt, NJ

Rhea-AI Summary

Terreno Realty Corporation (TRNO) announces a 31,000 square feet lease in Carlstadt, New Jersey with a North American distributor of grocery and non-food products. The lease will commence on August 1, 2023, and expire in May 2028, expanding TRNO's industrial real estate portfolio in key U.S. markets.

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 for 31,000 square feet in Carlstadt, New Jersey with a North American distributor of grocery and non-food products. The lease will commence on August 1, 2023 and will expire May 2028.

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, and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2022 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/20230731333103/en/

Jaime Cannon

415-655-4580

Source: Terreno Realty Corporation

FAQ

What is the latest announcement from Terreno Realty Corporation (TRNO)?

Terreno Realty Corporation (TRNO) has announced a new lease agreement for 31,000 square feet in Carlstadt, New Jersey with a North American distributor of grocery and non-food products.

When will the lease commence and expire?

The lease will commence on August 1, 2023, and expire in May 2028.

In which U.S. markets does Terreno Realty Corporation (TRNO) operate?

Terreno Realty Corporation (TRNO) operates 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.