Terreno Realty Corporation Announces Lease in Union City, CA
Terreno Realty Corporation (NYSE:TRNO) has signed a lease for 94,000 square feet in Union City, California, with a biopharmaceutical company, effective May 1, 2021, and expiring July 31, 2031. The leased space is currently occupied by a logistics provider until March 31, 2021. Terreno operates industrial real estate in six major U.S. coastal markets, including Los Angeles and Miami. The press release also contains forward-looking statements which highlight potential risks related to market conditions and the impact of COVID-19 on operations.
- Secured a long-term lease for 94,000 square feet with a biopharmaceutical company, indicating strong demand for industrial space.
- Continues to expand presence in key coastal U.S. markets, enhancing portfolio stability.
- Current space leased to a logistics provider until March 31, 2021, indicating a gap before the new lease commences.
- Forward-looking statements highlight risks related to market conditions and the impact of COVID-19, introducing uncertainty.
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 94,000 square feet in Union City, California with a biopharmaceutical company. The lease will commence May 1, 2021 and will expire July 31, 2031. The space is currently leased through March 31, 2021 to a logistics provider.
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.
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