BELLEVUE, Wash.–(BUSINESS WIRE)–Terreno Realty (NYSE:) Company (NYSE:TRNO), an acquirer, proprietor and operator of commercial actual property in six main coastal U.S. markets, introduced that it has accomplished the redevelopment of its 2.8-acre improved land parcel in Rancho Dominguez, California and leased 100% of the property on a short-term foundation.
The redeveloped property, an improved land parcel on the location of a former 51,000 square-foot constructing at 14805 S. Maple Avenue, is adjoining to 2 Terreno Realty Company improved land parcels on S. Maple Avenue and between Los Angeles Worldwide Airport and the Ports of Los Angeles and Lengthy Seashore. The whole value of the redeveloped property is roughly $28.3 million. The property is 100% leased on a short-term foundation to a trucking and transloading supplier for 18 months and the stabilized cap charge of the redeveloped property is roughly 2.3%.
Terreno Realty Company acquires, owns and operates industrial actual property in six main coastal U.S. markets: New York Metropolis/Northern New Jersey; Los Angeles; Miami; San Francisco Bay Space; Seattle and Washington, D.C.
Further details about Terreno Realty Company is out there on the corporate’s website at www.terreno.com.
Ahead-Trying Statements
This press launch accommodates forward-looking statements inside the that means of the federal securities legal guidelines. We warning traders that forward-looking statements are primarily based on administration’s beliefs and on assumptions made by, and data at the moment out there to, administration. When used, the phrases anticipate, imagine, estimate, anticipate, intend, might, may, plan, venture, outcome, ought to, will, search, goal, see, doubtless, place, alternative, outlook, potential, enthusiastic, future and related expressions which don’t relate solely to historic issues are meant to determine forward-looking statements. These statements are topic to dangers, uncertainties, and assumptions and are usually not ensures of future efficiency, which can be affected by identified and unknown dangers, traits, uncertainties, and elements which can be past our management, together with dangers associated to our means to fulfill our estimated forecasts associated to stabilized cap charges and people danger elements contained in our Annual Report on Kind 10-Okay for the yr ended December 31, 2023 and our different public filings. Ought to a number of of those dangers or uncertainties materialize, or ought to underlying assumptions show incorrect, precise outcomes might range materially from these anticipated, estimated, or projected. We expressly disclaim any accountability to replace our forward-looking statements, whether or not on account of new data, future occasions, or in any other case, besides as required by regulation. Accordingly, traders ought to use warning in counting on previous forward-looking statements, that are primarily based on outcomes and traits on the time they’re made, to anticipate future outcomes or traits.
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Jaime Cannon
415-655-4580
Supply: Terreno Realty Company
