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Stock impact report

Terreno Realty Corporation Announces Lease in Queens, NY

Terreno Realty Corporation (TRNO) 
Last terreno realty corporation earnings: 2/6 04:04 pm Check Earnings Report
US:NYSE Investor Relations: terreno.com
Company Research Source: Business Wire
SAN FRANCISCO--(BUSINESS WIRE)-- Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, announced today that it has executed a full building lease for 83,000 square feet in Woodside Queens, New York with a leading e-commerce firm. The lease commences December 1, 2018 and expires February 28, 2029. The property was acquired in March 2018 and is currently under redevelopment with an estimated stabilized cap rate of 6.3%. 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. Show less Read more
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