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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 priced a public offering of 3,500,000 shares of common stock at $74.50 per share, with a 30-day option for underwriters to buy an additional 525,000 shares. The offering's closing date is set for
Terreno Realty Corporation (NYSE: TRNO) has announced an offering of 3,500,000 shares of its common stock, with an option for underwriters to purchase an additional 525,000 shares. The net proceeds will be allocated for general corporate purposes, including working capital, debt repayment, and future investments. Goldman Sachs & Co. LLC and KeyBanc Capital Markets Inc. are the underwriters. This offering is registered under an effective shelf registration statement and will be conducted via a prospectus.
Terreno Realty Corporation (NYSE: TRNO) declared a regular cash dividend of
Terreno Realty Corporation (NYSE:TRNO) has successfully acquired an industrial property in
Terreno Realty operates in six major coastal U.S. markets, focusing on industrial real estate opportunities.
Terreno Realty Corporation (NYSE:TRNO) has acquired an industrial property in Alexandria, Virginia, for approximately $9.0 million on October 29, 2021. The property features a distribution building of about 28,000 square feet on 1.3 acres, located within the Capital Beltway. It offers two dock-high and one grade-level loading positions, alongside parking for 20 vehicles. The estimated stabilized cap rate is 4.5%, calculated based on expected market occupancy and total acquisition costs.
Terreno Realty Corporation (NYSE:TRNO) acquired an industrial property in
Terreno Realty Corporation (NYSE:TRNO) acquired an industrial property in Gardena, California for approximately
Terreno Realty Corporation (NYSE:TRNO) has acquired an industrial property located at 190 Morgan Avenue, Brooklyn, New York, for approximately $4.5 million on October 12, 2021. The acquisition includes a distribution building with about 12,000 square feet on a 0.3-acre lot, which is currently vacant. The estimated stabilized cap rate for this property is 4.9%, calculated based on the anticipated net operating income. This acquisition aligns with Terreno's strategy of expanding its industrial real estate portfolio across six major U.S. coastal markets.
Terreno Realty Corporation (NYSE:TRNO) sold an industrial property in East Hanover, New Jersey, on October 12, 2021, for approximately $32.7 million. The property includes three buildings totaling around 167,000 square feet on 11.7 acres, currently 88.2% leased to 32 tenants. Terreno originally purchased the property for about $20.0 million on September 30, 2013, generating an unleveraged internal rate of return of 10.1% on the investment.
Terreno Realty Corporation (NYSE:TRNO) reported strong Q3 2021 results with a 98.0% occupancy rate, up from 97.5% last quarter. The company achieved a 34.9% increase in cash rents on new leases, and total acquisitions reached
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