Terreno Realty Corporation acquired a property in South Brunswick, New Jersey on December 31, 2013 for a purchase price of approximately $5.0 million. The property consists of a land parcel of approximately 10.15 acres located immediately adjacent to Terreno Realty Corporation's existing 413,000 square foot facility at 130 Interstate Boulevard within the New Jersey Turnpike Exit 8A submarket. Terreno Realty Corporation expects to construct during 2014 an approximately 190,000 square foot expansion to the existing facility creating an approximately 603,000 square foot multi-tenant front-load distribution building.

The estimated stabilized cap rate of the expansion portion of the property is 5.8%.