NYSE:TRNOIndustrial REITs
Is Terreno Realty (TRNO) Quietly Redefining Its Coastal Strategy With This 5.5% Cap-Rate Deal?
Terreno Realty Corporation recently acquired a US$25.9 million fully leased industrial distribution property in San Francisco and previously executed a pre-lease for a 4.6-acre improved land parcel in Elizabeth, New Jersey, with both leases running into the next decade.
Together, these moves highlight Terreno Realty’s continued build-out of coastal industrial assets, anchored by a stabilized cap rate of 5.5% on the San Francisco acquisition.
We’ll now examine how the San Francisco industrial...