On May 13,
Terreno Realty Corp.
) 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
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
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.
Rexford Industrial Realty, Inc.
Aviv REIT, Inc.
). 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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