Terreno Realty (TNO) Acquires Industrial Property in Miami for $4.0 Million
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Terreno Realty Corporation (NYSE: TRNO) acquired an industrial property located in Miami, Florida on June 28, 2011 for a purchase price of approximately $4.0 million.
The property consists of one multi–tenant industrial building containing approximately 35,000 square feet. The property is currently 100% leased to two tenants. The estimated stabilized cap rate of the property is 6.2%.
Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost
The property consists of one multi–tenant industrial building containing approximately 35,000 square feet. The property is currently 100% leased to two tenants. The estimated stabilized cap rate of the property is 6.2%.
Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost
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