Terreno Realty Stock Price, News & Analysis

Terreno Realty (NYSE:TRNO), an industrial real estate company, has announced an early lease renewal in Torrance, California. The renewal involves a global supplier of automotive parts, components, and technologies for a 99,000 square foot property. The lease, originally set to expire in January 2025, has been extended to January 2030.

Terreno Realty specializes in acquiring, owning, and operating industrial real estate in six major coastal U.S. markets: Northern New Jersey/New York City, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C.

Terreno Realty (NYSE: TRNO), an industrial real estate company operating in six major coastal U.S. markets, has announced an 8.9% increase in its quarterly dividend. The new dividend of $0.49 per common share will be payable on October 11, 2024, to stockholders of record as of September 30, 2024.

Additionally, Terreno has filed its quarterly report on Form 10-Q for the second quarter of 2024 with the SEC. The company's financial statements and supplemental information are now available on their website. Terreno focuses on acquiring, owning, and operating industrial properties in key 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 acquired an industrial property in Washington, D.C. for $7.6 million. The property, located at 3000 V Street NE, consists of a 26,000 square foot industrial distribution building on 0.7 acres. It features four dock-high and one grade-level loading positions, along with parking for 16 cars. The property is currently vacant, with an estimated stabilized cap rate of 5.6%. This acquisition expands Terreno's presence in the area, as it is adjacent to two existing Terreno buildings on V Street. Terreno Realty specializes in acquiring, owning, and operating industrial real estate in six major coastal U.S. markets.

Terreno Realty (NYSE:TRNO) has announced a significant pre-lease agreement for its Countyline Corporate Park Phase IV Building 33 in Hialeah, Florida. A third-party logistics provider has leased 105,000 square feet, representing 67% of the building, for a seven-year term starting in March 2025. The 158,000 square foot facility is part of a larger 121-acre project set to include 2.2 million square feet of industrial distribution space across ten buildings.

The total expected investment for Building 33 is $39.0 million with an estimated stabilized cap rate of 5.9%. The entire Countyline Corporate Park Phase IV project has a projected investment of $511.5 million. Upon completion in 2027, Terreno's combined Countyline Corporate Park Phase III and IV will encompass 17 buildings totaling 3.5 million square feet.

Terreno Realty (NYSE:TRNO), a major player in industrial real estate across six coastal U.S. markets, has announced an early lease renewal for a property in Carson, California. The renewal involves a 5.4-acre improved land parcel leased to a leading national ground delivery company. Originally set to expire in March 2025, the lease has been extended to March 2030, securing a long-term tenant for the property.

This strategic move reinforces Terreno's position in the Los Angeles market, one of its key operational areas. The company's focus on prime coastal locations, including Northern New Jersey/New York City, Miami, San Francisco Bay Area, Seattle, and Washington, D.C., underscores its targeted approach to industrial real estate investment and management.

Terreno Realty (NYSE: TRNO) reported its Q2 2024 operating, investment, and capital markets activity.

Key highlights include: 96.0% portfolio occupancy, a slight dip from 96.2% in Q1 2024 and 97.8% in Q2 2023. Cash rents on new and renewed leases increased by 45.9%, with a year-to-date rise of 46.5%. The company acquired properties worth $448.8 million and began developing a $42.1 million project. They also stabilized two buildings totaling 692,000 sq. ft. at Countyline Corporate Park.

Year-to-date, Terreno Realty acquired properties valued at $467.3 million and issued 8.68 million shares at an average price of $62.54, generating $542.8 million in proceeds. No shares were repurchased, and there were no outstanding borrowings on their $400 million credit facility.

Terreno Realty (NYSE: TRNO) announced the appointment of Constance von Muehlen as an independent director, effective June 1, 2024. This addition expands the Board of Directors to eight members. Ms. von Muehlen is currently the Executive Vice President and Chief Operating Officer of Alaska Airlines, a position she has held since April 2021. She has a comprehensive background, including a Bachelor’s degree from Johns Hopkins University and an Executive MBA from the Foster School of Business at the University of Washington. Additionally, she holds an FAA Commercial Instrument Helicopter Pilot’s License and has served on various boards, including the FAA’s Women in Aviation advisory board and the San Jose Public Library Foundation board. Terreno Realty specializes in acquiring, owning, and operating industrial real estate in key coastal U.S. markets like Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C.

Terreno Realty (NYSE:TRNO) has completed the development and stabilization of Countyline Corporate Park Phase IV Building 40 in Hialeah, Florida, ahead of the previously expected Q4 2024 timeline. The 186,000 square foot industrial distribution building, featuring 60 dock-high and two grade-level loading positions, is fully leased to four tenants. The total investment for Building 40 is $43.8 million, with an estimated stabilized cap rate of 6.3%. Countyline Phase IV, part of a 121-acre project, is set to contain ten LEED-certified buildings totaling 2.2 million square feet upon its completion in 2027, with a projected total investment of $511.5 million. Terreno Realty's combined Countyline Corporate Park Phases III and IV will comprise 17 buildings and 3.5 million square feet of industrial space.

Terreno Realty (NYSE: TRNO) has announced an early lease renewal and expansion in Fremont, California with an Advanced Air Mobility provider. The renewal lease, initially set to expire in February 2025, has been extended to August 2029. Additionally, an expansion lease of 41,000 square feet will begin in June 2024 and also conclude in August 2029.

Terreno Realty focuses on acquiring, owning, and operating industrial real estate in six major coastal U.S. markets, including Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C.