{"id":514107,"date":"2021-07-16T09:18:03","date_gmt":"2021-07-16T13:18:03","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/terreno-realty-corporation-acquires-property-in-hawthorne-ca-for-8-1-million\/"},"modified":"2021-07-16T09:18:03","modified_gmt":"2021-07-16T13:18:03","slug":"terreno-realty-corporation-acquires-property-in-hawthorne-ca-for-8-1-million","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/terreno-realty-corporation-acquires-property-in-hawthorne-ca-for-8-1-million\/","title":{"rendered":"Terreno Realty Corporation Acquires Property in Hawthorne, CA for $8.1 Million"},"content":{"rendered":"

<\/p>\n

\nTerreno Realty Corporation Acquires Property in Hawthorne, CA for $8.1 Million\n<\/p>\n

BELLEVUE, Wash.–(BUSINESS WIRE<\/a>)–Terreno Realty Corporation<\/b> (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property located in Hawthorne, California on July 14, 2021 for a purchase price of approximately $8.1 million.\n<\/p>\n

\nThe property consists of two industrial distribution buildings containing approximately 22,000 square feet on 1.6 acres. The property is at 13020 and 13030 Cerise Avenue, south of I-105 and between I-405 and I-110, provides two grade-level loading positions and parking for 64 cars. The property is 100% leased to two tenants, both of which expire by October 2025. The estimated stabilized cap rate of the property is 5.4%.\n<\/p>\n

\nEstimated 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\u2019s due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.\n<\/p>\n

\nTerreno Realty Corporation acquires, owns and operates 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.\n<\/p>\n

\nAdditional information about Terreno Realty Corporation is available on the company\u2019s web site at www.terreno.com<\/a>.\n<\/p>\n

\nForward-Looking Statements\n<\/p>\n

\nThis 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\u2019s beliefs and on assumptions made by, and information currently available to, management. When used, the words \u201canticipate,\u201d \u201cbelieve,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201cmay,\u201d \u201cmight,\u201d \u201cplan,\u201d \u201cproject,\u201d \u201cresult,\u201d \u201cshould,\u201d \u201cwill,\u201d \u201cseek,\u201d \u201ctarget,\u201d \u201csee,\u201d \u201clikely,\u201d \u201cposition,\u201d \u201copportunity,\u201d \u201coutlook,\u201d \u201cpotential,\u201d \u201centhusiastic,\u201d \u201cfuture\u201d 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, the impact of the COVID-19 pandemic on our business, our tenants and the national and local economies, and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2020 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, except as required by law. Accordingly, investors should use caution in relying on past forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210716005007\/en\/<\/a><\/span><\/p>\n

\nJaime Cannon
\n
415-655-4580\n<\/p>\n

KEYWORDS:<\/b> United States North America California Washington<\/p>\n

INDUSTRY KEYWORDS:<\/b> Commercial Building & Real Estate Construction & Property Building Systems REIT<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
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Terreno Realty Corporation Acquires Property in Hawthorne, CA for $8.1 Million BELLEVUE, Wash.–(BUSINESS WIRE)–Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property located in Hawthorne, California on July 14, 2021 for a purchase price of approximately $8.1 million. The property consists of two industrial distribution buildings containing approximately 22,000 square feet on 1.6 acres. The property is at 13020 and 13030 Cerise Avenue, south of I-105 and between I-405 and I-110, provides two grade-level loading positions and parking for 64 cars. The property is 100% leased to two tenants, both of which expire by October 2025. The estimated stabilized cap rate of the property is 5.4%. … <\/p>\n

Continue reading “Terreno Realty Corporation Acquires Property in Hawthorne, CA for $8.1 Million”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-514107","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nTerreno Realty Corporation Acquires Property in Hawthorne, CA for $8.1 Million - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/terreno-realty-corporation-acquires-property-in-hawthorne-ca-for-8-1-million\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Terreno Realty Corporation Acquires Property in Hawthorne, CA for $8.1 Million - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Terreno Realty Corporation Acquires Property in Hawthorne, CA for $8.1 Million BELLEVUE, Wash.–(BUSINESS WIRE)–Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property located in Hawthorne, California on July 14, 2021 for a purchase price of approximately $8.1 million. The property consists of two industrial distribution buildings containing approximately 22,000 square feet on 1.6 acres. The property is at 13020 and 13030 Cerise Avenue, south of I-105 and between I-405 and I-110, provides two grade-level loading positions and parking for 64 cars. The property is 100% leased to two tenants, both of which expire by October 2025. 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