Terreno Realty announces lease extension Terreno Realty Corporation announced a lease extension at its industrial property at 2475-2477 Manhattan Beach Boulevard in Redondo Beach, California. The tenant for 100% of the property exercised an option to extend its lease of 103,200 square feet by two years. The lease will now expire December 2016.
Terreno Realty sells buildings in Fremont, California for $13.4M Terreno Realty sold an industrial property located in Fremont, California on June 25 for a sale price of approximately $13.4M. The property consists of two industrial buildings containing approximately 141,000 square feet on approximately 8.8 acres. The property is 100% leased to six tenants and was purchased by Terreno Realty Corporation March 26, 2010 for approximately $7.3M. The estimated unleveraged internal rate of return generated by the investment was approximately 15.1%.