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Terreno Realty Acquires Property in South San Francisco
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Key Takeaways
TRNO acquired a 32,000-sq-ft industrial property in South San Francisco for $10.2M.
The property is fully leased through October 2025 with a stabilized cap rate of 5.8%.
TRNO recently added assets in Woodinville, WA, and Redondo Beach, CA, to its portfolio.
Terreno Realty Corporation (TRNO - Free Report) recently announced the acquisition of an industrial property in South San Francisco, CA. The buyout was carried out on Sept. 5 for a purchase value of around $10.2 million. The move will aid the company in fostering its future growth by building a robust portfolio.
Located at 258 Littlefield Avenue, between San Francisco International Airport and the City of San Francisco, the property spans around 32,000 square feet over 1.1 acres. Lying in proximity to TRNO’s property at 240 Littlefield Avenue, the building offers four dock-high positions with parking for 24 cars. Leased at 100% through October 2025, the estimated stabilized cap rate is 5.8%.
TRNO is on an acquisition spree. Last month, thecompany acquired a prime portfolio of industrial properties in Woodinville, WA, for approximately $232.6 million. It also secured an industrial property in Redondo Beach, CA, for around $35.5 million.
Final Take on TRNO
With such expansion efforts, Terreno Realty is well-positioned to enhance its portfolio in six major coastal U.S. markets, namely New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle and Washington, D.C. These markets display solid demographic trends and witness healthy demand for industrial real estate.
Moreover, with national industrial vacancy rates still near historic lows in key logistics hubs, TRNO appears well-positioned to achieve steady rent growth and maintain high occupancy levels.
Shares of this Zacks Rank #2 (Buy) company have rallied 10.8% in the past month, outperforming the industry’s growth of 3.7%.
The Zacks Consensus Estimate for WPC’s 2025 FFO per share has been lowered marginally over the past two months to $4.87.
The consensus estimate for AHR’s 2025 FFO per share has been revised upward marginally to $1.66 over the past month.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
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Terreno Realty Acquires Property in South San Francisco
Key Takeaways
Terreno Realty Corporation (TRNO - Free Report) recently announced the acquisition of an industrial property in South San Francisco, CA. The buyout was carried out on Sept. 5 for a purchase value of around $10.2 million. The move will aid the company in fostering its future growth by building a robust portfolio.
Located at 258 Littlefield Avenue, between San Francisco International Airport and the City of San Francisco, the property spans around 32,000 square feet over 1.1 acres. Lying in proximity to TRNO’s property at 240 Littlefield Avenue, the building offers four dock-high positions with parking for 24 cars. Leased at 100% through October 2025, the estimated stabilized cap rate is 5.8%.
TRNO is on an acquisition spree. Last month, the company acquired a prime portfolio of industrial properties in Woodinville, WA, for approximately $232.6 million. It also secured an industrial property in Redondo Beach, CA, for around $35.5 million.
Final Take on TRNO
With such expansion efforts, Terreno Realty is well-positioned to enhance its portfolio in six major coastal U.S. markets, namely New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle and Washington, D.C. These markets display solid demographic trends and witness healthy demand for industrial real estate.
Moreover, with national industrial vacancy rates still near historic lows in key logistics hubs, TRNO appears well-positioned to achieve steady rent growth and maintain high occupancy levels.
Shares of this Zacks Rank #2 (Buy) company have rallied 10.8% in the past month, outperforming the industry’s growth of 3.7%.
Image Source: Zacks Investment Research
Other Stocks to Consider
Some other top-ranked stocks from the broader REIT sector are W.P. Carey (WPC - Free Report) and American Healthcare REIT, Inc. (AHR - Free Report) , each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for WPC’s 2025 FFO per share has been lowered marginally over the past two months to $4.87.
The consensus estimate for AHR’s 2025 FFO per share has been revised upward marginally to $1.66 over the past month.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.