Terreno Realty Corporation Announces Lease in Seattle, WA

Rhea-AI Summary

Terreno Realty Corporation (NYSE:TRNO) announced a lease for 4.4 acres of improved land in Seattle, Washington, with a student transportation provider. The lease is set to commence on June 30, 2022, and will expire in July 2025. The company focuses on acquiring, owning, and operating industrial real estate across six major coastal U.S. markets, including Los Angeles, Northern New Jersey, San Francisco, Seattle, Miami, and Washington, D.C.

Positive

• Lease agreement secured for 4.4 acres in Seattle, enhancing property portfolio.
• Long-term lease with a student transportation provider indicates stable cash flow.

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 4.4 acres of improved land in Seattle, Washington with a provider of student transportation. The lease will commence June 30, 2022 and expire July 2025.

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, 2021 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/20220606005904/en/

Jaime Cannon

415-655-4580

Source: Terreno Realty Corporation

FAQ

What is the lease agreement announced by TRNO?

Terreno Realty Corporation announced a lease agreement for 4.4 acres of land in Seattle, commencing June 30, 2022, and expiring in July 2025.

Who is the tenant in TRNO's new lease?

The tenant is a provider of student transportation.

How will the lease impact TRNO's financial performance?

The lease is expected to provide stable cash flow to TRNO, enhancing its property portfolio.

In which markets does TRNO operate?

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