Terreno Realty Corporation reports recurring developments as an industrial real estate REIT that acquires, owns and operates properties in New York City/Northern New Jersey, Los Angeles, Miami, the San Francisco Bay Area, Seattle and Washington, D.C. Its updates focus on leasing activity, early renewals, occupancy, acquisitions, dispositions, development completions and capital markets activity across warehouse, distribution, transshipment, flex and improved-land assets.
Company announcements also cover quarterly dividends, Form 10-Q financial statements and supplemental operating information. Property-level releases often describe square footage, acreage, loading configuration, tenant use and project status, including industrial distribution buildings at Countyline Corporate Park in Hialeah, Florida.
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) has sold an industrial property in Newark, New Jersey for $29.8 million on December 10, 2024. The property, consisting of a 5.7-acre improved land parcel with 100% occupancy by a single tenant, was originally purchased in June 2017 for $8.8 million. The investment generated an unleveraged internal rate of return of 14.9%. Terreno 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) has acquired an industrial property in Long Island City Queens, New York for $7.6 million. The property features a 17,000-square-foot industrial distribution building situated on 0.4 acres at 48-29 31st Place. Located adjacent to I-495 and approximately one mile from the Queens Midtown Tunnel, the facility includes one dock-high, one van-level, and one grade-level loading positions, along with parking for seven cars. The property is currently vacant with an estimated stabilized cap rate of 5.7%.
Terreno Realty (NYSE:TRNO) has signed a new lease agreement for an 82,000 square foot industrial property in Avenel, New Jersey with a leading national wholesale tire distributor. The lease will commence on December 31, 2024 and run through January 2030. Terreno operates industrial real estate across 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) has sold an industrial property in Doral, Florida for $20.6 million. The property, which consists of one industrial distribution building spanning 75,000 square feet on 2.8 acres, is fully leased to a single tenant. The company had originally purchased the property in July 2012 for $4.2 million and achieved an unleveraged internal rate of return of 13.4% on the investment.
Terreno Realty (NYSE:TRNO) has completed the development and stabilization of Building 31 in Countyline Corporate Park Phase IV, Hialeah, Florida. The 162,000-square-foot industrial distribution building is 100% leased to one tenant and features a 36-foot clear height, 53 dock-high and two grade-level loading positions, with parking for 140 cars. The total investment is $42.1 million with an estimated stabilized cap rate of 6.0%.
The broader Countyline Phase IV project spans 121 acres and will include ten LEED-certified buildings totaling 2.2 million square feet, with completion expected in 2027. The total investment for Phase IV is projected at $511.5 million.
Terreno Realty (NYSE:TRNO) has completed the redevelopment and stabilization of Terreno 147th Street in Hawthorne, California. The 31,000 square foot industrial distribution building sits on 1.3 acres and features four dock-high and one grade-level loading positions, plus parking for 35 cars including four electric charging stations. The property is 100% leased to an atomic energy company from completion through April 2028. The building, expected to achieve LEED certification, represents a total investment of $15.6 million with an estimated stabilized cap rate of 5.6%.
Terreno Realty has sold two industrial flex buildings in Union City, California for $13.0 million. The property, spanning 37,000 square feet on 3.9 acres and fully leased to 20 tenants, was originally purchased in December 2014 for $5.1 million. The investment generated an unleveraged internal rate of return of 18.8%. The company operates industrial real estate across six major coastal U.S. markets, including Northern New Jersey/New York City, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C.
Terreno Realty (NYSE:TRNO) has secured an early lease renewal for a 50,000-square-foot property in Jamaica Queens, New York. The tenant, a manufacturer of pre-cooked meals, has extended their lease from the original expiration date of September 2026 to September 2036. The company specializes in acquiring, owning, and operating industrial real estate across six major coastal U.S. markets, including Northern New Jersey/New York City, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C.
Terreno Realty (NYSE: TRNO) has announced three key updates: First, the company declared a quarterly dividend of $0.49 per common share for Q4 2024, payable on January 7, 2025. Second, the Board approved a new share repurchase program for up to 3,000,000 shares through December 31, 2026. Third, the company filed its Q3 2024 Form 10-Q with the SEC. The industrial real estate company operates in six major coastal U.S. markets, including Northern New Jersey/New York City, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C.