Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and
operator of industrial real estate in six major coastal U.S. markets,
sold an industrial property located in San Jose, California on February
24, 2016 for a sale price of approximately $8.2 million.
The property consists of one flex/R&D industrial building containing
approximately 72,000 square feet on approximately 3.6 acres. The
property is at 2190 Fortune Drive, is 100% leased to two tenants and was
purchased by Terreno Realty Corporation March 30, 2010 for approximately
$5.6 million. The estimated unleveraged internal rate of return
generated by the investment was approximately 11.3%.
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
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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
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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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