Property

Terreno Realty Company Sells Property in Somerset, NJ for $25.0 Million

BELLEVUE, Wash., November 18, 2022–(BUSINESS WIRE)–Terreno Realty Company (NYSE:TRNO), an acquirer, proprietor and operator of business actual property in six main coastal U.S. markets, bought an industrial property situated in Somerset, New Jersey on November 17, 2022 for a sale worth of roughly $25.0 million.

The property consists of 1 industrial distribution constructing containing roughly 86,000 sq. toes on 6.9 acres which is 100% leased to 1 tenant. The property was bought by Terreno Realty Company on September 1, 2016 for about $9.1 million. The unleveraged inside charge of return generated by the funding was 20.7%.

Terreno Realty Company acquires, owns and operates industrial actual property in six main coastal U.S. markets: Los Angeles; Northern New Jersey/New York Metropolis; San Francisco Bay Space; Seattle; Miami; and Washington, D.C.

Further details about Terreno Realty Company is obtainable on the corporate’s web page at www.terreno.com.

Ahead-Trying Statements

This press launch incorporates forward-looking statements throughout the that means of the federal securities legal guidelines. We warning traders that forward-looking statements are based mostly on administration’s beliefs and on assumptions made by, and data presently obtainable to, administration. When used, the phrases “anticipate,” “imagine,” “estimate,” “count on,” “intend,” “might,” “would possibly,” “plan,” “mission,” “end result,” “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 supposed to establish 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 components which might be past our management, together with dangers associated to our skill to satisfy our estimated forecasts associated to stabilized cap charges, the impression of the COVID-19 pandemic on our enterprise, our tenants and the nationwide and native economies, and people danger components contained in our Annual Report on Type 10-Okay for the yr ended December 31, 2021 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 differ materially from these anticipated, estimated, or projected. We expressly disclaim any duty to replace our forward-looking statements, whether or not because of new info, 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 based mostly on outcomes and traits on the time they’re made, to anticipate future outcomes or traits.

View supply model on businesswire.com: https://www.businesswire.com/information/residence/20221114005898/en/

Contacts

Terreno Realty Company
Jaime Cannon
415-655-4580

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