AG真人官方

BELLEVUE, Wash.--(BUSINESS WIRE)-- Terreno AG真人官方ty 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 Long Island City, Queens, New York on June 30, 2025 for a purchase price of approximately $31.1 million.

The property consists of one industrial distribution building containing approximately 48,000 square feet on 2.2 acres. The property is at 49-10 27th Street, adjacent to the entrance to the Queens-Midtown Tunnel, and provides ten dock-high and 14 grade-level loading positions. The property is vacant. Upon acquisition Terreno AG真人官方ty Corporation will substantially renovate the building including new truck loading configuration, new office, new warehouse and exterior lighting, slab repair and possibly a roof raise. The renovated property, expected to be completed in 2026, is expected to have a total investment of approximately $40.2 million and the estimated stabilized cap rate is 5.5%.

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鈥檚 due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.

Terreno AG真人官方ty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle and Washington, D.C.

Additional information about Terreno AG真人官方ty Corporation is available on the company鈥檚 web site at .

Forward-Looking Statements

This 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鈥檚 beliefs and on assumptions made by, and information currently available to, management. When used, the words 鈥渁nticipate,鈥� 鈥渂elieve,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渋ntend,鈥� 鈥渕ay,鈥� 鈥渕ight,鈥� 鈥減lan,鈥� 鈥減roject,鈥� 鈥渞esult,鈥� 鈥渟hould,鈥� 鈥渨ill,鈥� 鈥渟eek,鈥� 鈥渢arget,鈥� 鈥渟ee,鈥� 鈥渓ikely,鈥� 鈥減osition,鈥� 鈥渙pportunity,鈥� 鈥渙utlook,鈥� 鈥減otential,鈥� 鈥渆nthusiastic,鈥� 鈥渇uture鈥� 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, and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2024 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.

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Jaime Cannon

415-655-4580

Source: Terreno AG真人官方ty Corporation