Terreno Realty Corporation Announces Lease in Newark, NJ
Terreno Realty (NYSE: TRNO) announced a lease agreement for 5.5 acres of improved land in Newark, New Jersey with an automobile exporter. The lease began on May 16, 2024, and will run until January 2028. Terreno specializes in acquiring, owning, and operating industrial real estate in key coastal markets, including Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C.
- Terreno executed a lease for 5.5 acres of land in a key market, Newark, NJ.
- The lease runs from May 16, 2024, to January 2028, providing long-term revenue.
- The lessee is an automobile exporter, indicating a stable tenant with specific industry needs.
- Terreno continues to expand its footprint in major coastal U.S. markets.
- The lease will not commence generating revenue until May 16, 2024.
- The lease duration is relatively short, expiring in January 2028, which may require future renegotiation.
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
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240516405784/en/
Jaime Cannon
415-655-4580
Source: Terreno Realty Corporation
FAQ
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