Terreno Realty Acquires $18.1M Property in MD - Analyst Blog

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On May 13, Terreno Realty Corp. ( TRNO ) inked a deal to acquire an industrial property in Capitol Heights, MD. Valued at $18.1 million, the transaction is in line with the company's usual strategy of expanding its industrial real estate base.

This acquisition adds nearly 139,000 square feet of industrial distribution building spanning over 7.7 acres of land to the company's portfolio. Moreover, this is located nearly 4 miles east of Washington, DC and close to the Capital Beltway. The property is wholly leased to one tenant. Additionally, it offers parking for 210 cars and provides 18 dock-high and 2 grade-level loading positions.

San Francisco, CA-based Terreno Realty is a real estate investment trust (REIT) which acquires, owns and operates industrial real estate in the U.S. Its main focus is the coastal markets in Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington D.C./Baltimore.

This comes close on the heels of another very recent acquisition. In April, the company took over one industrial distribution building in Inglewood, CA for around $3.5 million. In first-quarter 2014, Terreno Realty made acquisitions worth $33.8 million. These included three industrial properties with three buildings. In fourth-quarter 2013, the company concluded $99.6 million worth of acquisitions covering 680,000 square feet area. The latest buyout is only a continuation of the acquisition spree that the company is presently engaged in.

Terreno Realty currently sports a Zacks Rank #1 (Strong Buy). Some other top-ranked equity REITs include The GEO Group, Inc. ( GEO ), Rexford Industrial Realty, Inc. ( REXR ) and Aviv REIT, Inc. ( AVIV ). While GEO Group and Rexford Industrial Realty sport a Zacks Rank #1 (Strong Buy), Aviv holds a Zacks Rank #2 (Buy).


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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Business , Stocks

Referenced Stocks: AVIV , GEO , REXR , TRNO

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