Terreno Realty Corporation (NYSE:TRNO, Financial), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, announced today that it has completed the redevelopment of Terreno Realty Corporation’s Berryessa improved land parcel in San Jose, California and executed a lease for 6.3 acres of improved land to host a City of San Jose program to provide unhoused individuals with supportive interim tiny-home housing and safe RV parking. The lease will commence on June 30, 2023 and will expire August 2033. The total cost of the redeveloped property is approximately $26.3 million and the stabilized cap rate is approximately 4.9%.
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