DLR

Terreno Realty (TRNO) Buys Industrial Property in Florida

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In a notable development, Terreno Realty Corp.TRNO announced the acquisition of an industrial property in Medley, FL on Mar 11, 2016. Valued at around $6 million, this buyout is consistent with this industrial real estate investment trust's ("REIT") strategy of enhancing its industrial property portfolio in major U.S. markets.

The acquired property comprises one industrial distribution building, of about 60,000 square feet, spread over an area of around 2.7 acres. This industrial property is located at 12950 NW South River Drive, Miami-Dade County and is close to North Okeechobee Road and the Florida Turnpike.

Notably, the property is fully leased to one tenant and offers 10 dock-high and 1 grade-level loading positions, and parking facility for 55 cars.

We expect the latest acquisition to boost Terreno Realty's bottom line, going ahead. This San Francisco, CA-based REIT actively focuses on leveraging the improving fundamentals of industrial markets, bolstering its business in key coastal U.S. markets like Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, D.C./Baltimore.

Terreno Realty currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the REIT space include CorEnergy Infrastructure Trust, Inc. CORR , DCT Industrial Trust Inc. DCT and Digital Realty Trust Inc. DLR . Each of these stocks holds a Zacks Rank #2 (Buy).

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DIGITAL RLTY TR (DLR): Free Stock Analysis Report

TERRENO REALTY (TRNO): Free Stock Analysis Report

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CORENERGY INFRA (CORR): Free Stock Analysis Report

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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 Nasdaq, Inc.


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

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