Welcome to our dedicated page for Terreno Realty news (Ticker: TRNO), a resource for investors and traders seeking the latest updates and insights on Terreno Realty stock.
Terreno Realty Corporation (NYSE: TRNO) generates a steady flow of news through its activity as an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets. Company announcements highlight transactions and developments across New York City/Northern New Jersey, Los Angeles, Miami, the San Francisco Bay Area, Seattle and Washington, D.C.
News coverage for Terreno often focuses on operating performance and leasing. Regular updates describe portfolio occupancy, same-store occupancy, improved land leasing, cash rent changes on new and renewed leases, and tenant retention ratios. Press releases also detail notable lease signings and renewals, such as agreements with logistics providers, manufacturers, government agencies and other industrial users in markets like Newark, Hialeah, Doral, Woodinville and Washington, D.C.
Another major category of news involves acquisitions, dispositions and development. Terreno reports on purchases of industrial distribution buildings and improved land parcels, including property size, location, loading configurations, parking, purchase price and estimated stabilized capitalization rates. Disposition announcements describe sales of industrial properties and the unleveraged internal rates of return achieved over the holding period. Development and redevelopment updates cover new construction starts, project scale, expected total investment, targeted LEED certification and pre-leasing status, including large multi-building initiatives such as Countyline Corporate Park Phase IV in Hialeah, Florida.
Terreno’s news flow also includes capital markets and financing activity. Examples include issuing common stock under an at-the-market equity offering program and entering into amendments to its senior credit facility, such as adding a new term loan and adjusting borrowing terms. By following TRNO news, readers can track how the company is expanding and repositioning its industrial portfolio, managing occupancy and rents, and arranging capital to support its real estate strategy across key coastal U.S. logistics markets.
Terreno Realty Corporation (NYSE: TRNO) declared a cash dividend of $0.34 per common share for the quarter ending June 30, 2022, payable on July 14, 2022. This dividend reflects the company's commitment to returning value to shareholders. Additionally, the quarterly report for the period ending March 31, 2022 has been filed with the SEC. The company also promoted Melinda Weston to Chief Accounting Officer, effective May 3, 2022, strengthening its management team.
Terreno Realty Corporation (NYSE:TRNO) announced the sale of an industrial property in Bound Brook, New Jersey on May 2, 2022, for approximately $110.4 million. The 581,000 square feet property consists of 18 distribution buildings, fully leased to 29 tenants. Acquired for about $27.0 million in September 2010, this investment yielded an unleveraged internal rate of return of 15.2%. Terreno operates in key U.S. coastal markets, ensuring a strategic position in the industrial real estate sector.
Terreno Realty Corporation (NYSE:TRNO) has acquired a 9.7-acre industrial property in Newark, New Jersey, for $17.3 million. The acquisition, completed on April 18, 2022, adds to its portfolio of industrial real estate across six coastal U.S. markets. The property is 100% leased to two tenants, with an estimated stabilized cap rate of 5.3%. This strategic location near the New Jersey Turnpike aims to bolster TRNO’s market presence and operational capacity.
Terreno Realty Corporation (NYSE:TRNO) has successfully acquired an industrial property in Redmond, Washington for approximately $9.8 million on April 8, 2022. This acquisition includes two distribution buildings totaling around 32,000 square feet on 2.0 acres. The property is 100% leased and features 13 grade-level loading positions, with parking for 58 vehicles. The estimated stabilized cap rate is 4.1%, indicating a solid investment. This acquisition strengthens Terreno's industrial footprint in key U.S. markets.
Terreno Realty Corporation (NYSE:TRNO) reported strong first-quarter 2022 results with a quarter-end occupancy of 96.9% and same-store occupancy of 98.4%, reflecting an increase from the previous quarter and year. The company achieved a 34.8% rise in cash rents on new and renewed leases and a tenant retention ratio of 47.7%. They completed the Americas Gateway 5 redevelopment with an estimated stabilized cap rate of 6.6%. Year-to-date acquisitions totaled $86.1 million, with $293.6 million under contract or letter of intent.
Terreno Realty Corporation (NYSE: TRNO) has announced agreements to establish rooftop solar projects in Washington, D.C., with a total power capacity of 8.4 MW, enough to supply over 700 homes. These projects align with the company's sustainability goal of implementing solar solutions on at least 5% of their rooftop areas by the end of 2024. The projects are anticipated to be operational in 2023, supporting Terreno’s commitment to renewable energy.
Terreno Realty Corporation (NYSE:TRNO) has acquired three industrial properties in Bellevue, Washington on February 23, 2022, for approximately $13.0 million. The portfolio includes:
- One industrial distribution building (20,000 sq. ft.) at 11113 NE 33rd Place,
- One flex building (9,000 sq. ft.) at 11110 Northup Way,
- One improved land parcel (1.2 acres) at 11135 NE 33rd Place.
All properties are fully leased with an estimated stabilized cap rate of 3.4%.
Terreno Realty Corporation (NYSE:TRNO) has finalized the redevelopment of its America’s Gateway Building 5 in Doral, Florida, leasing 100% of the property. The redevelopment, costing approximately $7.5 million, features a renovated 52,000 square foot industrial building on 2.4 acres. The property, leased to four tenants with leases expiring in 2027, boasts a stabilized cap rate of 6.6%. This development strengthens TRNO's portfolio in major coastal U.S. markets.
Terreno Realty Corporation (NYSE:TRNO) has acquired a new industrial property in location value="LU/us.fl.hiaeah"Hialeah, Florida for approximately $73.2 million, net of free-rent credits. This property features two rear-load industrial distribution buildings totaling 407,000 square feet and is fully leased to two tenants. The estimated stabilized cap rate for this acquisition is 3.8%.
The property is strategically located near key transportation routes, enhancing its operational efficiency.
Terreno Realty Corporation (NYSE: TRNO) declared a regular cash dividend of $0.34 per common share for the quarter ending March 31, 2022. The dividend is payable on April 8, 2022 to stockholders of record as of the close of business on March 25, 2022. The company also filed its annual report on Form 10-K for the year ending December 31, 2021, providing detailed financial statements and supplemental information available on its website.