Terreno Realty Corporation
) announced the acquisition of an industrial property in Jessup,
Md. The company shelled out about $6.0 million for the purchase.
Spanning 88,000 square feet across 5.9 acres, the property has
one industrial distribution building that is currently 100%
leased to one tenant.
CHATHAM LODGING (CLDT): Free Stock Analysis
COUSIN PROP INC (CUZ): Free Stock Analysis
SABRA HEALTHCR (SBRA): Free Stock Analysis
TERRENO REALTY (TRNO): Free Stock Analysis
To read this article on Zacks.com click here.
The building is situated at 8215 Dorsey Run Road in Jessup
adjoining Highway 1 and Route 32 in the central
Baltimore/Washington Corridor. It offers 12 dock-high, 2 grade
level and 10 van loading positions. The property's estimated
stabilized cap rate is 6.7%.
Terreno Realty owns and operates industrial real estate
properties mainly in 6 major coastal markets of the U.S. - the
high barriers-to-entry markets of Los Angeles; Northern New
Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and
Washington, D.C./Baltimore. Terreno Realty has been active in
capitalizing on opportunities to strengthen its foothold in these
areas and opted for acquisitions as well as lease deals.
Last week, Terreno Realty announced the execution of two leases
in its San Francisco Bay Area portfolio. One is for 40,420 square
feet of space at 238 Lawrence in South San Francisco, and the
other for a lease for 35,117 square feet at Warm Springs
Boulevard in Fremont.
Moreover, adding catalysts to its top line, earlier this month
this industrial real estate investment trust (REIT) disclosed the
acquisition of an industrial property in Piscataway, N.J. for
approximately $7.0 million. Notably, the company acquired three
industrial properties comprising five buildings spanning
approximately 250,000 square feet for around $37.8 million during
We believe that such opportunistic acquisitions would fuel
Terreno Realty's growth in the period ahead and help boost its
strong tenant base. Moreover, it is expected to prove accretive
to the company's earnings going forward.
Terreno Realty currently holds a Zacks Rank #3 (Hold). However,
other REITs that are performing well and deserve a look include
Sabra Health Care REIT, Inc.
Chatham Lodging Trust
Cousins Properties Incorporated
). While SBRA has a Zacks Rank #1 (Strong Buy), Chatham Lodging
and Cousins Properties carry a Zacks Rank #2 (Buy).