See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Terreno Realty Corporation (TRNO) - free report >>
Alexandria Real Estate Equities, Inc. (ARE) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Terreno Realty Corporation (TRNO) - free report >>
Alexandria Real Estate Equities, Inc. (ARE) - free report >>
Image: Bigstock
Terreno Realty Acquires Property in New Jersey for $9.1M
Industrial real estate investment trust (“REIT”) Terreno Realty Corporation (TRNO - Free Report) announced that on Sep 1, it acquired an industrial property located in Somerset, NJ. The property, comprising around 86,000 square feet on 6.9 acres, was purchased at a price of around $9.1 million.
Located at 70 Schoolhouse Road, the property includes one rear-load industrial distribution building and this buyout is consistent with the REIT’s strategy of enhancing its property portfolio in the major U.S. markets. The property, which is fully leased to one tenant, provides 12 dock-high and one grade-level loading positions, as well as parking facility for 61 cars. The estimated stabilized cap rate of the property is 5.5%.
This latest acquisition is expected to boost Terreno Realty’s bottom line, going ahead. This San Francisco, CA-based REIT actively focuses on leveraging the improving fundamentals of industrial markets, bolstering its business 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./Baltimore.
TERRENO REALTY Price
TERRENO REALTY Price | TERRENO REALTY Quote
Terreno Realty currently carries a Zacks Rank #3 (Hold). Investors interested in the REIT sector can consider some better-ranked stocks like Alexandria Real Estate Equities, Inc. (ARE - Free Report) , Arbor Realty Trust Inc. (ABR - Free Report) and CareTrust REIT, Inc. (CTRE - Free Report) . All these stocks hold a Zacks Rank #2 (Buy).
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>