Terreno Realty reports Q3 same store occupancy 97.9%
Terreno Realty Corporation announced its operating, investment and capital markets activity for the third quarter of 2016. As of September 30, 2016, Terreno Realty Corporation owned 159 buildings aggregating approximately 11.7 million square feet and four improved land parcels consisting of 21.4 acres. The total portfolio was 96.4% leased to 374 tenants as compared to 92.7% at June 30, 2016 and 90.2% at September 30, 2015. The same store portfolio of approximately 8.6 million square feet was 97.9% leased at September 30, 2016 as compared to 95.1% at June 30, 2016 and 92.0% at September 30, 2015. Cash rents on new and renewed leases totaling approximately 0.5 million square feet commencing during the third quarter increased approximately 20.9%, and approximately 1.3 million square feet commencing during the nine months ending September 30, 2016 increased approximately 13.2%. During the third quarter of 2016, Terreno Realty Corporation acquired four industrial properties consisting of five buildings containing approximately 240,000 square feet and a 13.4 acre improved land parcel for an aggregate purchase price of approximately $36.5M.