Terreno Realty Corporation - TRNO STOCK NEWS

Terreno Realty Corporation (NYSE:TRNO) has successfully acquired an industrial property in Hawthorne, California for approximately $7.9 million. The facility spans 21,000 square feet on a 1.5-acre lot and is fully leased until May 2024. Located at 13025 Cerise Avenue, the property features 13 dock-high and 2 grade-level loading positions, along with parking for 54 cars. The acquired property has a stabilized cap rate of 2.9%, calculated from anticipated net operating income.

Terreno Realty Corporation (NYSE:TRNO) has acquired an industrial property in Kearny, New Jersey for approximately $26.3 million as of September 27, 2021. The 5.4-acre site, situated near Exit 15E of the New Jersey Turnpike, is currently 51% leased out to two tenants, with an estimated stabilized cap rate of 3.1%. This acquisition aligns with Terreno's strategy of enhancing its portfolio in major coastal U.S. markets.

Terreno Realty Corporation (NYSE:TRNO) has successfully sold an industrial property in Seattle, Washington for approximately $10.3 million on September 9, 2021. The asset, encompassing 35,000 square feet on 1.1 acres, was 100% leased to three tenants at the time of sale. Initially acquired for about $5.9 million in April 2017, this transaction yielded an unleveraged internal rate of return of 11.0%. Terreno Realty continues to operate in six major U.S. coastal markets.

Terreno Realty Corporation (NYSE:TRNO) has announced the execution of leases totaling 57,000 square feet at its SoDo Row redevelopment property in Seattle. The leases will begin on September 1, 2021 and December 31, 2021, expiring on March 31, 2027, bringing the property to 65% leased. Terreno Realty operates industrial real estate across six major coastal U.S. markets including Los Angeles, New Jersey, San Francisco, Seattle, Miami, and Washington, D.C.

Terreno Realty Corporation (NYSE:TRNO) has acquired a 4.9-acre industrial property in Carlstadt, New Jersey for approximately $17.9 million on August 27, 2021. This vacant land is adjacent to the company's existing Michele Place property and has an estimated stabilized cap rate of 4.5%. The acquisition enhances Terreno's portfolio in key U.S. coastal markets, which includes major areas like Los Angeles and Miami.

Terreno Realty Corporation (NYSE:TRNO) has acquired an industrial property located in Hayward, California, for approximately $8.3 million. The property comprises two distribution buildings totaling around 41,000 square feet on a 2-acre site, equipped with 14 loading positions and parking for 64 cars. Currently, it is 92% leased to 10 tenants, with leases expiring by December 2025. The estimated stabilized cap rate for this investment is 4.9%, reflecting its potential profitability.

Terreno Realty Corporation (NYSE:TRNO) has signed a lease for 114,000 square feet in Gardena, California, starting from March 1, 2022, and set to expire on March 31, 2027. The leased space will be utilized by a global logistics and supply chain provider. This lease follows the expiration of the current lease on January 31, 2022. Terreno Realty focuses on acquiring, owning, and operating industrial real estate across six major U.S. coastal markets, including Los Angeles, Northern New Jersey, San Francisco, Seattle, Miami, and Washington, D.C.

Terreno Realty Corporation (NYSE: TRNO) announced the closing of a $350 million amended and restated senior unsecured credit facility to replace its existing facility. Key features include a $250 million revolving credit facility with a reduced interest rate of LIBOR plus 1.00% (down from 1.05%), maturing in August 2025, and a $100 million term loan with an interest rate of LIBOR plus 1.15%, maturing in January 2027. This restructuring aims to enhance financial flexibility in its operations across major coastal U.S. markets.

Terreno Realty Corporation (NYSE: TRNO) announced a private placement of $125 million in nine-year senior unsecured notes with a fixed interest rate of 2.38%. The offering, expected to close around October 28, 2021, aims to finance future acquisitions and support other corporate purposes. KeyBanc Capital Markets and U.S. Bancorp Investments acted as joint-lead placement agents. The notes are not registered under the Securities Act and were sold in reliance on an exemption.