The Goldman Sachs Group, Inc. (GS) – a full-service global investment banking and securities firm, and KeyBanc Capital Markets Inc. – the investment banking division of KeyCorp (KEY), are acting as the joint book-running managers for the offering.

Terreno Realty intends to utilize the proceeds to repay a part of its debt and fund potential acquisitions. Over the years, the company has resisted from pursuing ground-up development or land investments and instead focused on acquiring high-quality assets. The continuous acquisition binge is also part of the long-term strategy of the company to own functional and flexible buildings in infill locations that can be modified to accommodate single and multiple tenants at discounts to replacement cost.

San Francisco-based Terreno Realty owns and operates industrial real estate properties primarily in six major coastal markets of the U.S. These include the high barrier-to-entry markets of Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington D.C./Baltimore.

Each of the locations in which Terreno Realty has a significant presence is characterized by a well-established transportation network – seaports, airports, highways and railways that are essential for the swift distribution of goods. In addition, available land in these markets is scarce, resulting in steep barriers for the development of new and competing properties.

We have a ‘Neutral’ rating on Terreno Realty, which presently has a Zacks #3 Rank translating into a short-term ‘Hold’ rating.

Read the full analyst report on KEY

Read the full analyst report on GS

Read the full analyst report on TRNO

Article source: http://www.zacks.com/stock/news/67805/Terreno+Realty+Prices+Equity+Offer

Goldman, Sachs Co. and KeyBanc Capital Markets Inc. served as joint
book-running managers for the offering. Stifel, Nicolaus Company,
Incorporated served as lead manager and Mitsubishi UFJ Securities (USA),
Inc. and PNC Capital Markets LLC served as co-managers.

A copy of the prospectus supplement and prospectus relating to these
securities may be obtained, when available, by contacting Goldman, Sachs
Co., Attn: Prospectus Department, 200 West Street, New York, NY 10282,
telephone: 1.866.471.2526, facsimile: 1.212.902.9316, email prospectus-ny@ny.email.gs.com,
or KeyBanc Capital Markets Inc., Attention: Prospectus Delivery
Department, 127 Public Square, 6th Floor, Cleveland, OH 44114,
telephone: 1.800.859.1783.

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale would
be unlawful prior to registration or qualification under the securities
laws of any such state. Any offer or sale will be made only by means of
the written prospectus forming part of the effective registration
statement.

About the Company

Terreno Realty Corporation is an acquirer, owner and operator of
industrial real estate located in six major coastal U.S. markets: Los
Angeles; Northern New Jersey/New York City; San Francisco Bay Area;
Seattle; Miami; and Washington, D.C./Baltimore.

Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of the federal securities laws. We caution investors that
forward-looking statements are based on management’s beliefs and on
assumptions made by, and information currently available to, management.
When used, the words “anticipate”, “believe”, “estimate”, “expect”,
“intend”, “may”, “might”, “plan”, “project”, “result”, “should”, “will”,
and similar expressions which do not relate solely to historical matters
are intended to identify forward-looking statements. These statements
are subject to risks, uncertainties, and assumptions and are not
guarantees of future performance, which may be affected by known and
unknown risks, trends, uncertainties, and factors that are beyond our
control, including those risk factors contained in our Annual Report on
Form 10-K for the year ended December 31, 2010 and our other public
filings. Should one or more of these risks or uncertainties materialize,
or should underlying assumptions prove incorrect, actual results may
vary materially from those anticipated, estimated, or projected. We
expressly disclaim any responsibility to update our forward-looking
statements, whether as a result of new information, future events, or
otherwise.

Article source: http://www.businesswire.com/news/home/20120110006181/en/Terreno-Realty-Corporation-Announces-Pricing-Public-Follow-on