Terreno Realty - TRNO STOCK NEWS

Terreno Realty (NYSE:TRNO) has acquired an industrial property in Redmond, Washington for $9.3 million. The property, located at 9660 153rd Avenue NE on Seattle's Eastside, includes a 33,000 square foot industrial distribution building on 1.5 acres.

The facility features two dock-high and one grade-level loading positions, with parking for 30 cars. While currently 100% leased on a short-term basis, the property will undergo renovation after the existing tenant vacates, reducing its size to approximately 26,000 square feet. The estimated stabilized cap rate post-renovation is 5.5%.

Terreno Realty (NYSE:TRNO) reported its Q1 2025 operating results, showing a quarter-end occupancy of 96.6% compared to 97.4% in the previous quarter. The company achieved a 34.2% increase in cash rents on new and renewed leases with a 71.7% tenant retention ratio.

Key developments include:

• Sale of two properties for $24.9 million
• Completion of Santa Ana property redevelopment with $41.3 million investment
• Issuance of 3.5 million shares through ATM program raising $237.4 million
• Portfolio expansion to 298 buildings (19.3 million square feet) and 47 improved land parcels

The company has $55.9 million in acquisitions under contract and $16.0 million under letters of intent. Additionally, Terreno has five properties under development expected to total $392.8 million in investment.

Terreno Realty (NYSE:TRNO) has achieved full occupancy at its Countyline Building 33 in Hialeah, Florida through three new lease agreements:

- A seven-year lease for 105,000 sq ft with a third-party logistics provider
- 28,000 sq ft lease with a business-to-business food purveyor
- 24,000 sq ft lease with a specialty elevator parts distributor

Building 33 is a 158,000 sq ft industrial distribution facility completed in January 2025, with a total investment of $39.9 million and estimated stabilized cap rate of 5.9%. The building is part of Countyline Corporate Park Phase IV, a 121-acre development project set to include 10 LEED-certified buildings totaling 2.2 million sq ft by 2027, with a total expected investment of $511.5 million.

Terreno Realty (NYSE:TRNO) has completed the redevelopment of a property in Santa Ana, California on February 13, 2025. The 4.9-acre property, located at 1720 East Garry Avenue near the Costa Mesa Freeway, has been transformed from three multi-tenant office buildings into a 92,000 square foot rear-load industrial distribution building.

The new LEED Silver certified facility features ten dock-high and two grade-level loading positions, along with parking for 145 cars. The total investment amounts to $41.3 million. The property is fully leased to a provider of temperature-controlled life sciences supply chain solutions, with an estimated stabilized cap rate of 5.1%.

Terreno Realty (NYSE: TRNO), an industrial real estate company operating in six major coastal U.S. markets, has announced two key updates. First, the company declared a quarterly dividend of $0.49 per common share for Q1 2025, payable on April 4, 2025, to stockholders of record as of March 27, 2025. Second, TRNO has filed its annual report on Form 10-K for the year ended December 31, 2024, with the SEC.

The company's operations span across major coastal markets including New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C. Financial statements and supplemental information are available on the company's website.

Terreno Realty (NYSE:TRNO) has disclosed the tax treatment of its 2024 dividend distributions for common stockholders. The total distribution of $1.97 per share encompasses quarterly payments throughout 2024, including portions from late 2023 and early 2025. The dividend composition consists of:

- 87.9% ($1.731505) as Ordinary Taxable Dividends
- 12.1% ($0.239095) as Total Capital Gain Dividend
- 0.4% ($0.008316) as Unrecaptured Section 1250 Gain
- 87.9% ($1.731505) qualifies as Section 199A Dividends

The quarterly distributions increased progressively from $0.3246 to $0.49 per share during 2024, demonstrating a consistent dividend growth pattern.

Terreno Realty (NYSE:TRNO) has sold an industrial property in South San Francisco, California for $8.0 million on January 16, 2025. The property, which consists of one industrial building spanning approximately 22,000 square feet on 0.7 acres, was initially purchased by the company on July 10, 2020 for $6.3 million. The property is fully leased to a single tenant and generated an unleveraged internal rate of return of 7.5%.

Terreno Realty operates as an acquirer, owner, and operator of industrial real estate across six major coastal U.S. markets: New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C.

Terreno Realty (NYSE:TRNO) has sold an industrial property in Union City, California for $16.9 million on January 7, 2025. The property, which includes a 66,000-square-foot industrial distribution building on 3.0 acres, was originally purchased by the company on March 26, 2015, for $7.4 million. The investment generated an unleveraged internal rate of return of 13.0%.

The property was vacant at the time of sale. Terreno Realty operates in six major coastal U.S. markets, including New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C.

Terreno Realty (NYSE:TRNO) reported strong Q4 2024 performance with quarter-end occupancy reaching 97.4%, up from 97.0% in Q3. The company achieved a significant 26.7% increase in cash rents on new and renewed leases during Q4, and a 36.5% increase for the full year 2024.

Notable Q4 activities include $409.6 million in acquisitions of four industrial properties totaling 857,000 square feet, and the sale of three properties for $63.4 million. For the full year 2024, acquisitions totaled $884.5 million. The company commenced one new development project with an expected investment of $55.9 million and completed three development projects with a total investment of $86.0 million.

The company's portfolio now includes 299 buildings totaling 19.3 million square feet and 47 improved land parcels across six major coastal U.S. markets. Same-store occupancy improved to 98.3% from 97.3% in Q3.