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 acquired a vacant industrial property in Rancho Dominguez, California, for approximately $9.8 million on December 2, 2020. The 2.5-acre land parcel is located strategically between Los Angeles International Airport and the Ports of Los Angeles and Long Beach, with an estimated stabilized cap rate of 5.7%. This acquisition enhances Terreno's portfolio in six major coastal U.S. markets, underscoring its commitment to industrial real estate.
Terreno Realty Corporation (NYSE:TRNO) has successfully acquired an industrial property in Bellevue, Washington, for approximately $11.7 million on November 6, 2020. The property features a 39,000 square foot industrial flex building on 2.1 acres, currently 100% leased to one tenant. Located adjacent to major highways, it provides significant operational advantages, including a 4.9% stabilized cap rate based on the estimated annualized net operating income. This acquisition furthers Terreno's expansion in key coastal U.S. markets.
Terreno Realty Corporation (NYSE:TRNO) has acquired an industrial property in Los Angeles for approximately $4.4 million as of November 5, 2020. The 13,000 square foot building is 100% leased to a single tenant and features seven dock-high loading positions along with parking for 64 vehicles. This property, located at 2425 Porter Street, is strategically positioned near Interstate 10, with an estimated stabilized cap rate of 4.5%. Terreno operates in six major coastal U.S. markets, focusing on industrial real estate.
Terreno Realty Corporation (NYSE: TRNO) has declared a quarterly cash dividend of $0.29 per common share for the period ending December 31, 2020. This dividend is payable on January 5, 2021 to stockholders of record by December 15, 2020. The company operates in six significant coastal U.S. markets, including Los Angeles, Northern New Jersey/New York City, and San Francisco Bay Area. Additionally, Terreno Realty Corporation filed its quarterly Form 10-Q with the SEC for the quarter ending September 30, 2020, detailing financial performance.
Terreno Realty Corporation (NYSE:TRNO) has acquired an industrial property in Inglewood, CA for $10.0 million, finalized on October 26, 2020. The 1.9-acre land parcel, located at 8831 Aviation Boulevard, is adjacent to Los Angeles International Airport and will be vacant due to a tenant termination agreement. The estimated stabilized cap rate for this acquisition is 5.7%, calculated based on stabilized market occupancy and associated acquisition costs. Terreno Realty operates in six major coastal U.S. markets.
Terreno Realty Corporation (NYSE: TRNO) reported its third-quarter 2020 results, highlighting a strong operational performance. As of September 30, 2020, the company owned 219 buildings totaling 13.1 million square feet, achieving a leasing rate of 97.3%, up from 96.0% in Q2 2020. The same-store portfolio was 98.5% leased. The company acquired a 22,000-square-foot property for $6.3 million and sold a 192,000-square-foot property for $22.2 million, generating a 7.4% internal rate of return. The company also has $32.4 million in acquisitions under contract and a robust cash balance of $156 million.