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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) reported a strong second quarter of 2022 with 97.9% quarter-end occupancy, an increase from 96.9% in the prior quarter. The cash rents on new and renewed leases rose by 55.4% in Q2. The firm invested
Terreno Realty Corporation (NYSE:TRNO) has acquired a 6.7-acre industrial property in Medley, Florida, for approximately $20.0 million on July 5, 2022. The vacant parcel is near the Palmetto Expressway and West Okeechobee Road, with an estimated stabilized cap rate of 5.6%. This acquisition aligns with Terreno’s strategy to enhance its industrial real estate portfolio across six major U.S. coastal markets, including Los Angeles, Northern New Jersey, San Francisco Bay Area, Seattle, Miami, and Washington, D.C.
Terreno Realty Corporation (NYSE:TRNO) announced a full-building lease for 117,000 square feet in
Terreno Realty Corporation (NYSE: TRNO) has announced an increase in borrowing capacity under its revolving credit facility by $150 million, bringing the total capacity to $400 million. Currently, the outstanding balance on the facility is $12 million. This adjustment is facilitated by KeyBanc Capital Markets, MUFG Union Bank, PNC Capital Markets, and Regions Capital Markets, among others. The company focuses on industrial real estate in major coastal U.S. markets, including Los Angeles, New York City, and Miami.
Terreno Realty Corporation (NYSE:TRNO) announced a lease for 4.4 acres of improved land in Seattle, Washington, with a student transportation provider. The lease is set to commence on June 30, 2022, and will expire in July 2025. The company focuses on acquiring, owning, and operating industrial real estate across six major coastal U.S. markets, including Los Angeles, Northern New Jersey, San Francisco, Seattle, Miami, and Washington, D.C.
Terreno Realty Corporation (NYSE:TRNO) announced the acquisition of an industrial property in Redmond, Washington on June 17, 2022 for approximately
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.
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