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In The News For more information, contact Wes Stinchcomb at 410.280.1100. Source: Terreno Realty Corporation Terreno Realty Corporation acquired an industrial property located in Carlstadt, New Jersey on June 28, 2011 for a purchase price of approximately $7.7 million. The property consists of one trans-shipment industrial building containing approximately 27,000 square feet on 12.7 acres. The property is currently 100% leased to one tenant. The estimated stabilized cap rate of the property is 7.1%. 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. |
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