Terreno Realty Corporation Announces Lease in Gardena, CA

Rhea-AI Summary

Terreno Realty Corporation (NYSE:TRNO) has signed a lease for 114,000 square feet in Gardena, California, starting from March 1, 2022, and set to expire on March 31, 2027. The leased space will be utilized by a global logistics and supply chain provider. This lease follows the expiration of the current lease on January 31, 2022. Terreno Realty focuses on acquiring, owning, and operating industrial real estate across six major U.S. coastal markets, including Los Angeles, Northern New Jersey, San Francisco, Seattle, Miami, and Washington, D.C.

Positive

• New 114,000 sq. ft. lease executed in Gardena, California, enhancing portfolio.
• Strategic lease to a global logistics and supply chain provider aligns with market demand.

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 for 114,000 square feet in Gardena, California with a global logistics and supply chain provider. The lease will commence on March 1, 2022 and will expire March 31, 2027 after expiration of the current lease on January 31, 2022.

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/20210824005045/en/

Jaime Cannon

415-655-4580

Source: Terreno Realty Corporation

FAQ

What is the significance of the new lease executed by Terreno Realty Corporation (TRNO)?

Terreno Realty has signed a lease for 114,000 square feet in Gardena, California, with a global logistics provider, which enhances its property portfolio and reflects strong demand in the industrial real estate sector.

When does the new lease for Terreno Realty Corporation (TRNO) start and end?

The lease for the 114,000 square feet will commence on March 1, 2022, and will expire on March 31, 2027.

How does the new lease impact Terreno Realty Corporation's (TRNO) business?

The lease contributes positively to Terreno Realty's revenue stream and strengthens its positioning in key U.S. coastal markets.

Where is the new lease location for Terreno Realty Corporation (TRNO)?

The new lease is located in Gardena, California.

What markets does Terreno Realty Corporation (TRNO) operate in?

Terreno Realty operates in major coastal U.S. markets including Los Angeles, Northern New Jersey, San Francisco Bay Area, Seattle, Miami, and Washington, D.C.