Washington, D.C
Terreno Realty Corporation Acquires Property in Washington, D.C. for $7.6 Million
BELLEVUE, Wash., August 05, 2024–(BUSINESS WIRE)–Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property located in Washington, D.C. on August 1, 2024 for a purchase price of approximately $7.6 million.
The property consists of one industrial distribution building containing approximately 26,000 square feet on 0.7 acres. The property is at 3000 V Street NE, immediately adjacent to and between two existing Terreno Realty Corporation buildings on V Street, provides four dock-high and one grade-level loading positions and parking for 16 cars. The property is vacant and the estimated stabilized cap rate is 5.6%.
Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer’s due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.
Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Northern New Jersey/New York City, Los Angeles, Miami, San Francisco Bay Area, Seattle and Washington, D.C.
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,” “seek,” “target,” “see,” “likely,” “position,” “opportunity,” “outlook,” “potential,” “enthusiastic,” “future” 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, 2023 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, except as required by law. Accordingly, investors should use caution in relying on past forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240726058441/en/
Contacts
Jaime Cannon
415-655-4580
Washington, D.C
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Washington, D.C
Deadspin | Paula Badosa dispatches Marie Bouzkova to win DC title
Spanish wild card Paula Badosa smacked 36 winners while recording a 6-1, 4-6, 6-4 victory over Marie Bouzkova of the Czech Republic on Sunday to win the Mubadala Citi DC Open at Washington, D.C.
The title is the fourth of Badosa’s career but her first since prevailing in Sydney in early 2022. Badosa won 78 percent (39 of 50) of her first-serve points.
Bouzkova had just 24 winners but stayed in the match by saving 13 of 18 break-point opportunities. She was looking for her second career WTA title. Badosa overcame 40 unforced errors and nine double faults while notching five aces. Bouzkova had two aces, three double faults and 41 unforced errors.
The match was twice delayed by rain. In Saturday’s semifinals, Bouzkova dealt with a 3 1/2-hour rain delay en route to upsetting top-seeded Aryna Sabalenka of Belarus.
–Field Level Media
Washington, D.C
Trump says he wants to 'take over' DC and 'clean it up' during campaign rally
WASHINGTON – Speaking from a campaign rally in Atlanta Saturday, former President Donald Trump said he wants to “take over” D.C. and “clean it up.”
“We will take over the horribly run capital of our nation in Washington, D.C. and clean it up, renovate it, rebuild our capital city, so there’s no longer a nightmare of murder and crime,” Trump said.
It’s been a particularly violent weekend in D.C. Four people were shot and two of them were pronounced dead in Northeast D.C. Three people were also stabbed in two early-morning attacks in the same area.
“We’re going to stop the murder and crime. You go down from your state, you end up getting mugged and murdered in our capital. It’ll be run tough and strong by our great police officers,” Trump said. “We will become the most beautiful capital, anywhere in the world.”
The comments come as the race between Trump and Vice President Kamala Harris is heating up. Harris has secured enough votes from delegates to be the Democratic Party’s nominee for president and she’s expected to announce a running mate in the coming week.
Her formal nomination is expected to be finalized by Aug. 7, though the party’s convention in Chicago isn’t scheduled to begin until Aug. 19.
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