On Jun 9,
Terreno Realty Corp.
), the San Francisco, CA-based real estate investment trust (REIT),
announced the acquisition of an industrial property in Corona, CA.
Valued at $7.8 million, the transaction is in line with the
company's usual strategy of expanding its industrial real estate
The acquisition adds nearly 90,000 square feet of industrial
distribution building spanning over 5.0 acres of land to the
company's portfolio. Moreover, it is located close to Interstate
15, at 2095 California Avenue. The property, offering trailer
storage facility and ten dock-high loading positions, is wholly
leased to one tenant.
Terreno Realty is primarily engaged in the acquisition, ownership
and operation of industrial real estate in the U.S. Its main areas
of business are the six coastal markets in Los Angeles, Northern
New Jersey/New York City, San Francisco Bay Area, Seattle, Miami
and Washington D.C./Baltimore.
In recent times, Terreno Realty has been involved in a number of
acquisitions. On two consecutive days in the previous month, it
purchased real estate properties worth $31.4 million. In April, it
bought one industrial distribution building in Inglewood, CA for
around $3.5 million. In first-quarter 2014, Terreno Realty
altogether purchased properties worth $33.8 million. Besides, in
fourth-quarter 2013, the company had acquired $99.6 million worth
of real estate properties stretching across an area of 680,000
square feet. The latest deal continues the acquisition spree of the
Terreno Realty currently sports a Zacks Rank #1 (Strong Buy). Some
other equity REITs worth considering include
The GEO Group, Inc.
Parkway Properties Inc.
Aviv REIT, Inc.
). All these stocks have the same Zacks Rank as that of Terreno
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