Terreno Realty Corporation Announces Lease Extension and Expansion in Commerce, CA

SAN FRANCISCO--(BUSINESS WIRE)--

Terreno Realty Corporation TRNO, an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, announced today a lease extension and expansion at its Garfield Business Center in Commerce, California. A third-party logistics provider that currently leases 115,954 square feet at the property through March 2017 has executed a lease extension through March 2021. Further, the tenant has executed a lease for an adjacent 87,309 square feet that will become available upon expiration of an existing lease with another tenant in April 2017. This lease will expire March 2021. Finally, the tenant has executed a short-term lease for 40,250 square feet currently vacant at the property commencing June 30, 2016 and expiring December 2016. The tenant has an option to extend the expiration of this lease to be coterminous with the other two spaces.

Terreno Realty Corporation acquires, owns and operates 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.

Additional information about Terreno Realty Corporation is available on the company's web site at www.terreno.com.

Forward-Looking Statements

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, 2015 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.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160615005217/en/