Terreno Realty Acquires Building in New Jersey, USA for USD 3.5m.

MANews-(C)2009-2018

18 October 2018 - US-based industrial real estate company Terreno Realty Corp. (NYSE: TRNO) has acquired an industrial property located in Carlstadt, New Jersey for a purchase price of approximately USD 3.5m, the company said.

The property consists of one industrial distribution building containing approximately 24,000 square feet on 1.2 acres less than two miles north of the Meadowlands Sports Complex and Exit 16W of the New Jersey Turnpike.

This property is at 130 Commerce Road, provides four dock-high and one grade-level loading positions, parking for 20 cars and is 100% leased to one tenant. The estimated stabilized cap rate of the property is 5.2%.

Estimated stabilised 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...

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