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Terreno Realty Corporation (TRNO) is a renowned real estate investment trust (REIT) that focuses on acquiring, owning, and operating industrial real estate in six prominent coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C. The company aims to leverage its strategic locations to cater to high-demand areas, ensuring robust financial health and steady growth.
As of September 30, 2020, Terreno Realty owned a diversified portfolio comprising 219 buildings totaling approximately 13.1 million square feet. Furthermore, the company holds 22 improved land parcels covering around 85 acres and one property under redevelopment expected to provide an additional 0.2 million square feet upon completion. This extensive and varied portfolio enables Terreno to address the diverse needs of its clients effectively.
The company operates as an internally managed Maryland corporation and has elected to be taxed as a REIT under sections 856 through 860 of the Internal Revenue Code since its taxable year ended December 31, 2010. Terreno Realty’s business model focuses on industrial real estate, including warehouse/distribution centers, flex (light industrial and research and development spaces), transshipment facilities, and improved land parcels. This focus allows the company to maintain a competitive edge in the market.
Terreno Realty Corporation is committed to maintaining high occupancy rates and optimal use of its properties. Its strategic approach to acquisitions, combined with an emphasis on prime locations, ensures consistent performance and attractive returns for its investors. The company's recent achievements and ongoing projects demonstrate its capability to adapt and thrive in the ever-evolving real estate market.
The company’s financial health is bolstered by its strong market presence and sound investment strategies. Regular updates, transparent financial disclosures, and proactive management practices underscore Terreno Realty’s dedication to its stakeholders. For the latest information on the company's performance, events, and developments, investors and interested parties can refer to the most recent news and updates provided by Terreno Realty Corporation.
Terreno Realty Corporation (NYSE:TRNO) has acquired an industrial property in Newark, New Jersey, for approximately $13.0 million on June 7, 2022. The 1.8-acre site is fully leased to a single tenant on a short-term basis, with an estimated stabilized cap rate of 5.4%. This acquisition expands Terreno's portfolio in major coastal U.S. markets, contributing to its strategic position in the industrial real estate sector. The company continues to focus on enhancing its operational footprint in key locations.
Terreno Realty Corporation (NYSE:TRNO) announced a full-building lease for approximately 138,000 square feet in Kent, Washington with a third-party logistics provider. The lease starts on June 30, 2022 and runs until October 2027. Terreno operates industrial real estate across six major coastal U.S. markets, including Los Angeles, New York City, San Francisco, Seattle, Miami, and Washington, D.C.
Terreno Realty Corporation (NYSE:TRNO) has acquired an industrial property in San Leandro, California, for approximately $34.6 million on June 1, 2022. This property includes five industrial distribution buildings totaling 104,000 square feet on 4.2 acres, fully leased to 13 tenants, with leases expiring by 2027. Its strategic location near I-880 and Oakland International Airport enhances accessibility. The estimated stabilized cap rate is 3.5%, with expected annualized cash basis net operating income based on market occupancy.
Terreno Realty Corporation (NYSE:TRNO) has announced an early lease renewal for 7.2 acres in Newark, New Jersey, extending the lease expiration from February 2023 to February 2028. The leased land will be utilized by a manufacturer and direct importer of stone products. This strategic move reflects Terreno's commitment to enhancing its portfolio in key coastal markets, including Los Angeles, Northern New Jersey, San Francisco Bay Area, Seattle, Miami, and Washington, D.C.
Terreno Realty Corporation (NYSE:TRNO) has acquired two industrial properties in Inglewood and Los Angeles, California, for approximately $27.2 million on May 25, 2022. The Inglewood property spans 19,000 square feet and is 70% leased, with a stabilized cap rate of 2.4%. The Los Angeles property encompasses 40,000 square feet and is fully leased, demonstrating a 3.2% stabilized cap rate. Both properties are strategically located near Los Angeles International Airport, enhancing their operational value and potential for future growth.
Terreno Realty Corporation (NYSE:TRNO) has announced the acquisition of a 2.1-acre industrial property in
Terreno Realty Corporation (NYSE:TRNO) has acquired an industrial property in Newark, New Jersey, for approximately $11.9 million on May 19, 2022. The 2.4-acre land parcel at 127-167 and 147-163 Doremus Avenue is fully leased short-term to a single tenant, with an estimated stabilized cap rate of 6.9%. This acquisition supports Terreno's strategy of expanding its industrial real estate portfolio across six major coastal U.S. markets, aiming to enhance operational efficiency and increase future revenue.
Terreno Realty Corporation (NYSE:TRNO) has successfully acquired an industrial property in Santa Clara, California for approximately $54.6 million on
The acquisition enhances Terreno's portfolio in key coastal U.S. markets.
Terreno Realty Corporation (NYSE: TRNO) declared a cash dividend of $0.34 per common share for the quarter ending June 30, 2022, payable on July 14, 2022. This dividend reflects the company's commitment to returning value to shareholders. Additionally, the quarterly report for the period ending March 31, 2022 has been filed with the SEC. The company also promoted Melinda Weston to Chief Accounting Officer, effective May 3, 2022, strengthening its management team.
Terreno Realty Corporation (NYSE:TRNO) announced the sale of an industrial property in Bound Brook, New Jersey on May 2, 2022, for approximately
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