Terreno Realty Corporation Acquires Property in Brooklyn, NY, for $156.3 Million
Terreno Realty (NYSE:TRNO) has acquired an industrial property in Red Hook, Brooklyn, New York for $156.3 million. The transaction includes assuming a $72.9 million loan at 3.85% interest, maturing in March 2028. The property features a 36-foot clear height industrial distribution building with 312,000 leasable square feet on 16 acres. Located at 280 Richards Street, the facility includes five dock-high and five grade-level loading positions, 349 parking spaces (179 rooftop), and riparian access. The property is fully leased to a leading e-commerce firm with an estimated stabilized cap rate of 4.8%.
Terreno Realty (NYSE:TRNO) ha acquisito un immobile industriale a Red Hook, Brooklyn, New York per 156,3 milioni di dollari. La transazione prevede l'assunzione di un prestito di 72,9 milioni di dollari con un tasso d'interesse del 3,85%, in scadenza a marzo 2028. La proprietà presenta un edificio per la distribuzione industriale con un'altezza utile di 36 piedi e 312.000 piedi quadrati affittabili su 16 acri. Situato al 280 di Richards Street, il complesso include cinque baie di carico a livello del molo e cinque a livello stradale, 349 posti auto (179 sul tetto) e accesso ripariale. L'edificio è completamente affittato a una delle principali aziende di e-commerce, con un tasso di capitalizzazione stabilizzato stimato del 4,8%.
Terreno Realty (NYSE:TRNO) ha adquirido una propiedad industrial en Red Hook, Brooklyn, Nueva York por 156,3 millones de dólares. La transacción incluye asumir un préstamo de 72,9 millones de dólares al 3,85% de interés, con vencimiento en marzo de 2028. La propiedad cuenta con un edificio de distribución industrial de 36 pies de altura libre y 312,000 pies cuadrados arrendables en 16 acres. Ubicada en 280 Richards Street, la instalación incluye cinco posiciones de carga a nivel de muelle y cinco a nivel de calle, 349 espacios de estacionamiento (179 en el techo) y acceso ripario. La propiedad está completamente arrendada a una empresa líder en comercio electrónico con un tasa de capitalización estabilizada estimada del 4,8%.
Terreno Realty (NYSE:TRNO)는 뉴욕 브루클린의 레드 훅에 있는 산업 부동산을 1억 5630만 달러에 인수했습니다. 이 거래는 3.85% 이자율의 7290만 달러 대출을 인수하는 것을 포함하며, 2028년 3월에 만기가 됩니다. 이 부동산은 36피트의 클리어 높이를 가진 산업 유통 건물과 31만 2000평방피트 임대 가능 공간을 16에이커에 갖추고 있습니다. 280 리차드 스트리트에 위치한 이 시설은 다섯 개의 독 고와 다섯 개의 지상 하역 위치, 349대의 주차 공간(옥상 179대), 그리고 수로 접근을 포함합니다. 이 부동산은 선도적인 전자상거래 기업에 완전히 임대되어 있으며, 추정된 안정화 자본화율은 4.8%입니다.
Terreno Realty (NYSE:TRNO) a acquis une propriété industrielle à Red Hook, Brooklyn, New York pour 156,3 millions de dollars. La transaction comprend l'hypothèse d'un prêt de 72,9 millions de dollars à un taux d'intérêt de 3,85%, arrivant à échéance en mars 2028. La propriété dispose d'un bâtiment de distribution industrielle avec une hauteur libre de 36 pieds et 312 000 pieds carrés louables sur 16 acres. Situé au 280 Richards Street, l'installation comprend cinq quais de chargement surélevés et cinq niveaux au sol, 349 places de stationnement (179 sur le toit) et un accès riparien. La propriété est entièrement louée à une entreprise leader dans le commerce électronique, avec un taux de capitalisation stabilisé estimé à 4,8 %.
Terreno Realty (NYSE:TRNO) hat eine Industrieimmobilie in Red Hook, Brooklyn, New York für 156,3 Millionen Dollar erworben. Die Transaktion beinhaltet die Übernahme eines 72,9 Millionen Dollar Darlehens zu einem Zinssatz von 3,85%, das im März 2028 fällig wird. Die Immobilie verfügt über ein Industrieverteilungsgebäude mit einer lichten Höhe von 36 Fuß und 312.000 mietbaren Quadratfuß auf 16 Acres. Die Einrichtung an der 280 Richards Street umfasst fünf Laderampen auf Dockhöhe und fünf ebenerdige Ladepositionen, 349 Parkplätze (179 auf dem Dach) und Zugang zu Gewässern. Die Immobilie ist vollständig an ein führendes Unternehmen im E-Commerce vermietet, mit einer geschätzten stabilisierten Kapitalisierungsrate von 4,8%.
- 100% occupancy with a leading e-commerce tenant
- Strategic location in Brooklyn with riparian access
- Modern 36-foot clear height facility with 312,000 square feet
- Favorable financing with 3.85% interest-only loan
- Relatively low cap rate of 4.8% indicates high purchase price relative to income
- Significant debt assumption of $72.9 million
Insights
The property consists of one 36-foot clear height industrial distribution building containing approximately 312,000 leasable square feet on 16.0 acres. The property is at 280 Richards Street, provides five dock-high and five grade-level loading positions and parking for 349 cars, including 179 rooftop parking positions. The property has riparian access, is
Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally
Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal
Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. We caution investors that forward-looking statements are based on management’s beliefs and on assumptions made by, and information currently available to, management. When used, the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “result,” “should,” “will,” “seek,” “target,” “see,” “likely,” “position,” “opportunity,” “outlook,” “potential,” “enthusiastic,” “future” and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control, including risks related to our ability to meet our estimated forecasts related to stabilized cap rates, and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2023 and our other public filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Accordingly, investors should use caution in relying on past forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241211986474/en/
Jaime Cannon
415-655-4580
Source: Terreno Realty Corporation
FAQ
What is the purchase price and size of TRNO's new Brooklyn property acquisition?
What are the terms of the assumed loan in TRNO's Brooklyn acquisition?
What is the occupancy rate and cap rate of TRNO's new Brooklyn property?
What are the key features of TRNO's new Brooklyn industrial property?
Where is TRNO's new industrial property located in Brooklyn?
