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 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 Corporation (NYSE:TRNO) has signed a lease for 114,000 square feet in Gardena, California, starting from March 1, 2022, and set to expire on March 31, 2027. The leased space will be utilized by a global logistics and supply chain provider. This lease follows the expiration of the current lease on January 31, 2022. Terreno Realty focuses on acquiring, owning, and operating industrial real estate across six major U.S. coastal markets, including Los Angeles, Northern New Jersey, San Francisco, Seattle, Miami, and Washington, D.C.
Terreno Realty Corporation (NYSE: TRNO) announced the closing of a $350 million amended and restated senior unsecured credit facility to replace its existing facility. Key features include a $250 million revolving credit facility with a reduced interest rate of LIBOR plus 1.00% (down from 1.05%), maturing in August 2025, and a $100 million term loan with an interest rate of LIBOR plus 1.15%, maturing in January 2027. This restructuring aims to enhance financial flexibility in its operations across major coastal U.S. markets.
Terreno Realty Corporation (NYSE: TRNO) announced a private placement of $125 million in nine-year senior unsecured notes with a fixed interest rate of 2.38%. The offering, expected to close around October 28, 2021, aims to finance future acquisitions and support other corporate purposes. KeyBanc Capital Markets and U.S. Bancorp Investments acted as joint-lead placement agents. The notes are not registered under the Securities Act and were sold in reliance on an exemption.
Terreno Realty Corporation (NYSE:TRNO) has finalized a lease agreement for 44,000 square feet in East Williamsburg, Brooklyn, with a leading bike share provider. The lease is set to begin on September 1, 2021, and will terminate in June 2029. Terreno operates industrial real estate in six major U.S. coastal markets, enhancing its footprint in strategic locations.
Terreno Realty Corporation (NYSE:TRNO) has acquired three industrial properties in Seattle for approximately $50 million on August 11, 2021. The total land area is 11.7 acres, with key sites adjacent to King County International Airport and Interstate 5. The properties include:
- 9801 Martin Luther King Jr Way S: Purchased for $11.9 million, 100% occupied, 3.1 acres, 2.4% cap rate.
- 9845 Martin Luther King Jr Way S: Purchased for $15.8 million, 100% occupied, 3.4 acres, 3.4% cap rate.
- 9600 Martin Luther King Jr Way S: Purchased for $22.4 million, 0% occupied, 5.2 acres, 4.9% cap rate.
Terreno Realty Corporation (NYSE: TRNO) declared a quarterly cash dividend of $0.34 per common share for Q3 2021, marking a 17.2% increase from the previous dividend. The dividend will be payable on October 15, 2021 to stockholders of record by October 1, 2021. The company is engaged in the acquisition and management of industrial real estate across six major coastal U.S. markets, including Los Angeles and Seattle. For further details, the quarterly report is available on their website.
Terreno Realty Corporation (NYSE:TRNO) acquired an industrial property in Orange, California, on July 30, 2021, for approximately $9.3 million. The property includes two industrial distribution buildings totaling about 34,000 square feet on 2.5 acres, providing nine grade-level loading positions and parking for 77 cars. It is fully leased to a single tenant, with an estimated stabilized cap rate of 3.6%. The acquisition aligns with Terreno's strategy of enhancing its portfolio across major U.S. coastal markets.
Terreno Realty Corporation (NYSE:TRNO) acquired a 22,000 square foot industrial property in Hawthorne, California for approximately $8.1 million on July 14, 2021. The property, located on 1.6 acres at 13020 and 13030 Cerise Avenue, is fully leased to two tenants, both with leases expiring by October 2025. The estimated stabilized cap rate for this acquisition is 5.4%, calculated based on annualized cash basis net operating income at market occupancy. Terreno operates industrial real estate in six major coastal U.S. markets.
Terreno Realty Corporation (NYSE:TRNO) has successfully acquired a 221,000 square foot industrial property in Hialeah, Florida, for approximately $39.4 million, net of free-rent credits, as of July 14, 2021. The site, located at 4151 West 108th Street, boasts 65 dock-high and two grade-level loading positions, with parking for 188 cars. Fully pre-leased to three tenants, leases are expected to begin between July 16 and September 30, 2021, with an estimated stabilized cap rate of 3.7%. This acquisition enhances Terreno’s presence in key coastal U.S. markets.
Terreno Realty Corporation (NYSE:TRNO) reported significant operational and financial updates for Q2 2021. The firm owned 234 buildings and 27 land parcels, achieving a 97.5% lease rate with a 21.1% increase in cash rents. In Q2, it acquired six properties for $54.2 million, boosting its portfolio by approximately 136,000 square feet. Year-to-date, total acquisitions reached $164.2 million. Additionally, the company raised $69.6 million through shares and announced a $150 million private placement of senior unsecured notes to fund sustainable projects.