Terreno Realty Corporation Announces Leases in Fremont, CA
Terreno Realty (NYSE: TRNO) has announced an early lease renewal and expansion in Fremont, California with an Advanced Air Mobility provider. The renewal lease, initially set to expire in February 2025, has been extended to August 2029. Additionally, an expansion lease of 41,000 square feet will begin in June 2024 and also conclude in August 2029.
Terreno Realty focuses on acquiring, owning, and operating industrial real estate in six major coastal U.S. markets, including Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C.
- Early lease renewal and expansion, indicating strong tenant relationships.
- Renewal lease extended from February 2025 to August 2029, providing long-term revenue stability.
- Expansion lease of 41,000 square feet commencing in June 2024, contributing to increased occupancy and rental income.
- No new tenants mentioned, relying on the existing Advanced Air Mobility provider.
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
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240517889029/en/
Jaime Cannon
415-655-4580
Source: Terreno Realty Corporation
FAQ
What recent lease renewals has Terreno Realty (TRNO) announced?
When does the new expansion lease by Terreno Realty (TRNO) commence?
In which markets does Terreno Realty (TRNO) operate?
What is the total lease duration for Terreno Realty 's (TRNO) renewal in Fremont, CA?
