Monday, August 22, 2011

Terreno Realty Corp. Acquires Building in Doral, FL for $4.4 Million

SAN FRANCISCO, CA, Aug. 22, 2011 --(BUSINESS WIRE)--Terreno Realty Corporation (NYSE:TRNO) acquired an industrial property located in Doral, Florida on August 19, 2011 for a purchase price of approximately $4.4 million.

The property consists of one industrial building containing approximately 40,000 square feet. The property is currently 100% leased to one tenant. The estimated stabilized cap rate of the property is 6.6%.

Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost.

Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer’s due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.

 Terreno Realty Corporation is an acquirer, owner and operator of industrial real estate located 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

. Contacts
Terreno Realty Corporation
W. Blake Baird, 415-655-4580
Michael A. Coke, 415-655-4580

1 comment:

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