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 its quarterly investment, operating and capital markets activity for the third quarter of 2012.
During the third quarter of 2012, Terreno Realty Corporation acquired six industrial properties consisting of nine buildings containing approximately 577,000 square feet for an aggregate purchase price of approximately $74.4 million as follows:
As of September 30, 2012, Terreno Realty Corporation owned a total of 63 buildings aggregating approximately 4.8 million square feet, which were approximately 92.6% leased to 97 tenants.
The leased percentage increased from 91.3% at June 30, 2012 and 74.0% at September 30, 2011.
During the second quarter of 2012, Terreno Realty Corporation issued 1,840,000 shares of 7.75% Series A Perpetual Preferred Stock at $25.00 per share, generating approximately $44.3 million in net proceeds.
Additional information is available on the company’s website at www.terreno.com. Terreno Realty Corporation expects to file its quarterly report on Form 10-Q for the quarter ended September 30, 2012 on or about November 7, 2012.
Terreno Realty Corporation is an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C./Baltimore.
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’s beliefs and on assumptions made by, and information currently available to, management. When used, the words “anticipate”, “believe”, “estimate”, “expect”, “intend”, “may”, “might”, “plan”, “project”, “result”, “should”, “will”, 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, 2011 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.
Terreno Realty Corporation
W. Blake Baird or Michael A. Coke, 415-655-4580
Source: Terreno Realty Corporation