Terreno Realty Corporation Announces Quarterly Operating, Investment and Capital Markets Activity, and Promotion of John Meyer to Chief Operating Officer - Seite 2

During the fourth quarter of 2023, Terreno Realty Corporation acquired two properties consisting of three buildings containing approximately 208,000 square feet for an aggregate purchase price of approximately $73.2 million. The fourth quarter investment activity was as follows:

• 2411 Santa Fe Avenue: One industrial transshipment building containing approximately 67,000 square feet and one industrial flex building containing approximately 45,000 square feet on 6.7 acres located in Redondo Beach, California, west of Interstate 405 between Los Angeles International Airport and the ports of Los Angeles and Long Beach. The property provides 23 dock-high and one grade-level loading positions and parking for 200 cars. The property was acquired 100% leased to two tenants for a purchase price of approximately $45.7 million and an estimated stabilized cap rate of 5.3%; and
• 185 Van Dyke Street: One industrial flex building containing approximately 96,000 square feet on 3.8 acres located in Red Hook, Brooklyn, New York, on the Upper New York Bay waterfront. The property provides two dock-high and ten grade-level loading positions and off-street parking for 26 cars. The property was acquired 66% leased to 19 tenants for a purchase price of approximately $27.5 million and an estimated stabilized cap rate of 6.4%.

In 2023 Terreno Realty Corporation acquired seven properties consisting of nine buildings containing approximately 889,000 square feet, 4.9 acres which will be redeveloped with the construction of an approximately 92,000 square foot industrial distribution building, and a 121-acre project entitled for 2.2 million square feet of industrial distribution buildings for an aggregate purchase price of approximately $484.0 million.

Subsequent to December 31, 2023, Terreno Realty Corporation acquired a property at 13045 SE 32nd Street in Bellevue, Washington. The property consists of one industrial distribution building containing approximately 16,000 square feet on 1.8 acres adjacent to the intersection of I-90 and I-405. The property was acquired vacant for a purchase price of approximately $6.5 million and an estimated stabilized cap rate of 5.8%.

During the fourth quarter of 2023, Terreno Realty Corporation sold three properties consisting of two buildings containing approximately 151,000 square feet and one improved land parcel of approximately 13.4 acres for an aggregate sale price of approximately $51.6 million: