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December 2, 2013
09:15 EDTTRNOTerreno Realty announce lease extension in Sunnyvale, CA
Terreno Realty Corporation announced lease extensions at its East Caribbean Drive buildings in Sunnyvale, CA. The full building leases totaling approximately 147,000 square feet extend the current tenant, a leading molecular diagnostics company, for an additional five years within Silicon Valley’s Moffett Park submarket. The two leases will now expire March 31, 2025.
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April 23, 2014
09:16 EDTTRNOTerreno Realty acquires California building for $3.5M
Terreno Realty acquired an industrial property located in Inglewood, California on April 22 for a purchase price of approximately $3.5M. The property consists of one industrial distribution building containing approximately 19K square feet on 0.9 acres approximately one mile north of Los Angeles International Airport. The property is 94% leased to two tenants. The estimated stabilized cap rate of the property is 4.8%. The 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.

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