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Terreno Realty Corporation Announces Lease Renewal in Torrance, CA

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Terreno Realty (NYSE:TRNO), an industrial real estate company, has announced an early lease renewal in Torrance, California. The renewal involves a global supplier of automotive parts, components, and technologies for a 99,000 square foot property. The lease, originally set to expire in January 2025, has been extended to January 2030.

Terreno Realty specializes in acquiring, owning, and operating industrial real estate in six major coastal U.S. markets: Northern New Jersey/New York City, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C.

Terreno Realty (NYSE:TRNO), un'azienda di real estate industriale, ha annunciato un rinnovo anticipato di un contratto di locazione a Torrance, California. Il rinnovo riguarda un fornitore globale di parti, componenti e tecnologie automobilistiche per una proprietà di 99.000 piedi quadrati. Il contratto di locazione, inizialmente in scadenza a gennaio 2025, è stato esteso a gennaio 2030.

Terreno Realty si specializza nell'acquisizione, possesso e gestione di immobili industriali in sei importanti mercati costieri degli Stati Uniti: Northern New Jersey/New York City, Los Angeles, Miami, San Francisco Bay Area, Seattle e Washington, D.C.

Terreno Realty (NYSE:TRNO), una empresa de bienes raíces industriales, ha anunciado una renovación anticipada de un contrato de arrendamiento en Torrance, California. La renovación involucra a un proveedor global de piezas, componentes y tecnologías automotrices para una propiedad de 99,000 pies cuadrados. El contrato de arrendamiento, que originalmente expiraría en enero de 2025, se ha extendido hasta enero de 2030.

Terreno Realty se especializa en adquirir, poseer y operar bienes raíces industriales en seis importantes mercados costeros de EE. UU.: Northern New Jersey/New York City, Los Ángeles, Miami, Área de la Bahía de San Francisco, Seattle y Washington D.C.

Terreno Realty (NYSE:TRNO)는 산업용 부동산 회사로, 캘리포니아주 토랜스에서 조기 임대 갱신을 발표했습니다. 갱신은 자동차 부품, 구성 요소 및 기술의 글로벌 공급업체와 관련된 99,000 평방피트 면적의 자산을 포함합니다. 원래 2025년 1월에 만료될 예정이던 임대 계약이 2030년 1월까지 연장되었습니다.

Terreno Realty는 미국의 여섯 주요 해안 시장인 노던 뉴저지/뉴욕시, 로스앤젤레스, 마이애미, 샌프란시스코 만 지역, 시애틀, 그리고 워싱턴 D.C.에서 산업용 부동산을 인수, 소유 및 운영하는 데 전문화되어 있습니다.

Terreno Realty (NYSE:TRNO), une entreprise de biens immobiliers industriels, a annoncé un renouvellement anticipé d'un bail à Torrance, Californie. Ce renouvellement concerne un fournisseur mondial de pièces, de composants et de technologies automobiles pour une propriété de 99 000 pieds carrés. Le bail, qui devait initialement expirer en janvier 2025, a été prolongé jusqu'à janvier 2030.

Terreno Realty est spécialisée dans l'acquisition, la possession et l'exploitation de biens immobiliers industriels sur six principaux marchés côtiers aux États-Unis: Northern New Jersey/New York City, Los Angeles, Miami, la région de la baie de San Francisco, Seattle et Washington, D.C.

Terreno Realty (NYSE:TRNO), ein Unternehmen für industrielle Immobilien, hat eine vorzeitige Vertragsverlängerung in Torrance, Kalifornien angekündigt. Die Verlängerung betrifft einen globalen Anbieter von Automobilteilen, Komponenten und Technologien für eine 99.000 Quadratfuß große Immobilie. Der Mietvertrag, der ursprünglich im Januar 2025 auslaufen sollte, wurde bis Januar 2030 verlängert.

Terreno Realty hat sich auf den Erwerb, den Besitz und den Betrieb von Industrieimmobilien in sechs wichtigen Küstenmärkten der USA spezialisiert: Northern New Jersey/New York City, Los Angeles, Miami, San Francisco Bay Area, Seattle und Washington, D.C.

Positive
  • Early lease renewal secured, extending tenant commitment by 5 years
  • Maintained occupancy of a 99,000 square foot property
  • Renewal with a global automotive supplier, suggesting stable tenant
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 an early lease renewal in Torrance, California with a global supplier of automotive parts, components and technologies. The lease of 99,000 square feet, which was to expire in January 2025, will now expire January 2030.

Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Northern New Jersey/New York City; Los Angeles; Miami; San Francisco Bay Area; Seattle 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, 2023 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.

Jaime Cannon

415-655-4580

Source: Terreno Realty Corporation

FAQ

What is the new expiration date for Terreno Realty's lease renewal in Torrance, CA?

The lease renewal in Torrance, CA will now expire in January 2030, extended from its original expiration date of January 2025.

How large is the property involved in Terreno Realty's (TRNO) Torrance, CA lease renewal?

The property involved in Terreno Realty's lease renewal in Torrance, CA is 99,000 square feet.

What type of tenant renewed the lease with Terreno Realty (TRNO) in Torrance?

The tenant that renewed the lease is described as a global supplier of automotive parts, components, and technologies.

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

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

Terreno Realty Corporation

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