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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 robust results for Q4 2022, achieving a 98.6% overall occupancy rate, up from 98.4% in Q3 2022 and 95.5% YoY. Same-store occupancy rose to 99.5%, and cash rents increased by 45.2% for new and renewed leases. The company acquired $59.4 million in properties during the quarter and $414.8 million for the year. However, it issued 814,526 shares raising $47.9 million through its ATM program, which may affect shareholder equity.
Terreno Realty Corporation (NYSE:TRNO) has acquired an industrial property in
Terreno Realty Corporation (NYSE:TRNO) has announced the sale of an industrial property in Bayonne, New Jersey, for approximately $24.3 million on December 27, 2022. The property, spanning around 98,000 square feet and 3.6 acres, is fully leased to a single tenant. Terreno initially acquired the property on March 31, 2014, for about $9.2 million, resulting in an unleveraged internal rate of return of 14.1%. This transaction reflects the company's strategy in the industrial real estate market across six major coastal U.S. locations.
Terreno Realty Corporation (NYSE:TRNO) has secured a lease for 6.7 acres of improved land in Medley, Florida, with a North American equipment rental provider. This lease will begin on February 1, 2023, and continue until March 2033. Terreno specializes in acquiring, owning, and operating industrial real estate across six major U.S. coastal markets including Los Angeles, New York City, and Miami.
Terreno Realty Corporation (NYSE:TRNO) has secured a lease renewal for 110,000 square feet in Commerce, California, extending the lease expiration from March 2023 to April 2028. This renewal highlights the company's commitment to maintaining long-term relationships with tenants in the industrial real estate sector.
Terreno operates in six major coastal U.S. markets, including Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C.
Terreno Realty Corporation (NYSE: TRNO) announced the appointment of Irene H. Oh as an independent director, effective January 1, 2023, expanding its Board to nine members. Ms. Oh brings a wealth of experience, having served as Executive Vice President and CFO of East West Bancorp since January 2010. She also holds positions on the audit committee for the United Way of Greater Los Angeles. Terreno Realty operates industrial real estate in 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 an industrial property in
Terreno Realty Corporation (NYSE:TRNO) sold an industrial property in Somerset, New Jersey, on November 17, 2022, for $25 million. The property spans approximately 86,000 square feet on 6.9 acres and is fully leased to a single tenant. Terreno acquired the property on September 1, 2016, for about $9.1 million, achieving an impressive unleveraged internal rate of return of 20.7% on this investment. The company operates across major coastal U.S. markets, including Los Angeles and New York City.
Terreno Realty Corporation (NYSE:TRNO), based in Bellevue, Washington, announced an early lease renewal in Jamaica, Queens, New York, with a global freight forwarding provider. The renewal covers 63,000 square feet, extending the lease from its original expiration in December 2022 to December 2027. This renewal solidifies the company’s position in the industrial real estate sector, as it operates in six major U.S. coastal markets, including Los Angeles and Miami.
Terreno Realty Corporation (NYSE: TRNO) announced a regular cash dividend of $0.40 per common share for the quarter ending December 31, 2022. This dividend will be payable on January 13, 2023 to stockholders of record as of December 30, 2022. The company operates in six major coastal U.S. markets, including Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C. For detailed financial information, refer to their quarterly report filed with the SEC.
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