Terreno Realty - TRNO STOCK NEWS

Terreno Realty (NYSE:TRNO) has acquired Terreno Doral Air Logistics, an industrial property in Doral, Florida for $195.6 million. The property features three 36-foot clear height rear-load industrial distribution buildings spanning approximately 495,000 square feet on 23.4 acres. Located at 7725-7785 NW 41st Street, the facility is strategically positioned near major transportation routes, including the Palmetto Expressway and Miami International Airport.

The property includes 110 dock-high and six grade-level loading positions, with parking for 528 cars (including 11 EV charging positions). Currently 76% leased to six tenants, the property has an estimated stabilized cap rate of 4.6%.

Terreno Realty (NYSE:TRNO) has completed the redevelopment of a 2.8-acre improved land parcel in Rancho Dominguez, California. The property, located at 14805 S. Maple Avenue, was formerly a 51,000 square-foot building and is strategically positioned between Los Angeles International Airport and the Ports of Los Angeles and Long Beach. The total redevelopment cost amounts to $28.3 million.

The property has been fully leased to a trucking and transloading provider on an 18-month short-term basis. The redeveloped property's stabilized cap rate is approximately 2.3%. The site is adjacent to two other Terreno Realty improved land parcels on S. Maple Avenue.

Terreno Realty (NYSE:TRNO) has pre-leased 50% of its Countyline Corporate Park Phase IV Building 32 in Hialeah, Florida. The ten-year lease covers 82,000 square feet to an aircraft engine maintenance provider, starting June 2025. The 164,000-square-foot building is part of a larger 121-acre development project with a total expected investment of $41.9 million and an estimated 6.0% cap rate.

The complete Countyline Corporate Park Phase IV project will feature ten LEED-certified industrial buildings totaling 2.2 million square feet, with a total investment of approximately $511.5 million, expected to complete in 2027. Combined with Phase III, the development will encompass 17 buildings totaling 3.5 million square feet.

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.