SAN FRANCISCO—Locally based Terreno Realty Corp., an acquirer, owner and operator of industrial real estate in six major coastal US markets, has filed its quarterly report on Form 10-Q for the quarter ended Sept. 30, 2014 with the US Securities and Exchange Commission. During the third quarter of 2014, the firm acquired three industrial properties consisting of three buildings containing approximately 158,000 square feet for an aggregate purchase price of approximately $20.8 million. The third quarter acquisition activity was as follows:
- South Main II. One office building totaling approximately 34,000 square feet in Carson, California immediately adjacent to Terreno Realty Corporation's existing three building property on South Main, allowing for future complimentary use and potential redevelopment. The South Main property is near the intersection of I-110 and the Artesia Freeway approximately equidistant from Los Angeles International Airport and the ports of LA and Long Beach. This building was 100% leased to one tenant at acquisition and was acquired for a purchase price of approximately $8.5 million;
- 79th Ave South. One industrial building totaling approximately 32,000 square feet in Kent, Washington. This property is located adjacent to Highway 167 in Kent Valley and provides 10 dock-high and two grade-level loading positions and was 52% leased to one tenant at acquisition. This building was acquired for a purchase price of approximately $2.8 million; and
- Auburn 1307. One industrial building totaling approximately 92,000 square feet in Auburn, Washington. This property provides 15 dock-high and seven grade-level loading positions and is adjacent to Highway 167 in Kent Valley. This building was 78% leased at acquisition to five tenants and was acquired for a purchase price of approximately $9.5 million.
Subsequent to September 30, 2014, Terreno Realty Corp. acquired three industrial distribution buildings for an aggregate purchase price of approximately $26.4 million. Year-to-date, Terreno Realty has acquired $127.7 million of property comprising 1.2 million square feet. Terreno Realty currently has approximately $94.4 million of acquisitions under contract and $83.5 million under letter of intent.
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Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
