SAN FRANCISCO--(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 two leases in two buildings
totaling 107,060 square feet at its Central Pacific Business Park
property in Union City, California with a leading provider of
geostationary commercial satellites. The first lease of 51,580 square
feet will commence March 31, 2016 and expire April 30, 2023. The second
lease of 55,480 square feet is expected to commence May 1, 2016 and
expire May 31, 2023.
This completes the leasing of four recently acquired rear-load
industrial distribution buildings containing approximately 301,000
square feet on approximately 16.4 acres in the East Bay of San Francisco
adjacent to Interstate 880 between California Highways 92 and 84. The
property, which was placed under contract in December 2014, was
purchased in December 2015. Terreno Realty Corporation previously
announced that it executed three leases totaling 193,560 during
construction of four buildings at the property.
Terreno Realty Corporation is an acquirer, owner and operator of
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./Baltimore.
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”,
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, 2015 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.
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Terreno Realty Corporation
W. Blake Baird, 415-655-4580
Michael
A. Coke, 415-655-4580
Source: Terreno Realty Corporation