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 that its six-building 820,000 square foot V Street property in Washington, D.C. is now 97.5% leased to 26 tenants.
When acquired in January 2015 the property was approximately 87.3% leased to 22 tenants, with 209,000 square feet of leases scheduled to expire prior to November 1, 2016. Terreno Realty Corporation has renewed three tenants for 189,000 square feet and executed new leases with seven tenants for 102,000 square feet. The leases executed since acquisition had a weighted average lease term of eight years with an average cash rent increase of 65% as compared to the last cash rent on the expiring leases.
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.
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