Terreno Realty Corporation (
recently announced the inking of a lease renewal deal with an
existing tenant, which is one of the leading independent
foodservice distributors in the U.S. This industrial real estate
investment trust (REIT) entered into a 10-years deal for an
entire space (98,745 square feet) at an industrial property in
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The lease renewal transaction is expected to augment Terreno
Realty's strong tenant base and boost its relationship with
existing tenants. Moreover, it will likely prove accretive to the
earnings going forward and improve the company's top line.
Terreno Realty owns and operates industrial real estate
properties primarily in 6 major coastal markets of the U.S. These
include the high barriers-to-entry markets of Los Angeles,
Northern New Jersey, San Francisco Bay Area, Seattle, Miami and
Washington D.C. Lately, Terreno Realty has been active on
capitalizing on opportunities to strengthen its foothold in these
Recently, Terreno Realty purchased an industrial property in
Medley, Fla. for roughly $5.1 million. The acquired property
comprises 1 industrial building that spans 49,000 square feet
across 5.4 acres. It also represents the company's 10th building
in Miami-Dade County and is fully leased to a single tenant.
Also, earlier this week, Terreno Realty signed a lease extension
and expansion deal with an existing tenant for an industrial
property in Commerce, Calif. As per the deal, the tenant company
will extend the lease period for its currently occupied space of
65,000 square feet for 26 months. In addition, it also plans to
occupy an additional adjacent space of 51,000 square feet at the
industrial property. The expiration date for the combined leased
space of 116,000 square feet is Mar 31, 2018.
Terreno Realty currently holds a Zacks Rank #3 (Hold). However, a
number of other REITs that are performing better and worth a look
Omega Healthcare Investors Inc. (
Ryman Hospitality Properties Inc. (
Sabra Health Care REIT Inc. (
, all carrying a Zacks Rank #1 (Strong Buy).