Terreno Realty Corporation

(
TRNO

), a real estate investment trust (REIT), has recently acquired an
industrial building spanning 85,000 square feet in Laurel,
Maryland, for approximately $7.0 million. The property was
purchased from an unnamed seller.

The acquisition is part of the long-term strategy of the company to
abstain from pursuing ground-up development or land investments,
and instead own functional and flexible buildings in infill
locations that can be modified to accommodate single and multiple
tenants at discounts to replacement cost.

The acquired property is presently 100% leased to a single tenant.
The industrial building is strategically located in the
Baltimore/Washington corridor park, in close proximity to
Interstate 95 – the key highway on the East Coast of the U.S.
Consequently, the properties bring on board unmatched distribution
space for the company.

The estimated stabilized cap rate of the asset is 7.6%. Total
acquisition cost of the property included the initial purchase
price, the effects of marking assumed debt to market, due diligence
and closing costs, estimated near-term capital expenditures, and
leasing costs necessary to achieve stabilization.

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.

As of September 30, 2012, Terreno Realty owned 63 buildings
aggregating 4.8 million square feet in 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.
The properties were approximately 92.6% leased to 97 tenants.

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. We also
have a Neutral recommendation and a Zacks #4 Rank (short-term Sell
rating) for
DCT Industrial Trust Inc.

(
DCT

), one of the competitors of Terreno Realty.

 

DCT INDUSTRIAL (DCT): Free Stock Analysis
Report

 

TERRENO REALTY (TRNO): Free Stock Analysis
Report

 

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Article source: http://community.nasdaq.com/News/2012-10/terreno-realty-acquires-md-property-analyst-blog.aspx?storyid=181923

Acquisitions

During the third quarter of 2012, Terreno Realty Corporation acquired
six industrial properties consisting of nine buildings containing
approximately 577,000 square feet for an aggregate purchase price of
approximately $74.4 million as follows:

• Caribbean. Three multi-tenant industrial buildings in Sunnyvale,
  California located within Silicon Valley’s Moffett Park submarket and
  100% leased to two tenants. This property contains approximately
  172,000 square feet and was acquired for a purchase price of
  approximately $33.7 million.
• NW 78^th Avenue. One approximately 75,000 square foot
  industrial property in Doral, Florida adjacent to the west cargo area
  of Miami International Airport and the Palmetto Expressway. This
  property was acquired for a purchase price of approximately $4.2
  million and is vacant.
• Manhattan Beach. One multi-tenant industrial property in Redondo
  Beach, California located in the South Bay submarket and approximately
  one-half mile west of I-405 and four miles south of Los Angeles
  International Airport. This property contains approximately 103,000
  square feet, was acquired for a purchase price of approximately $14.2
  million and is 100% leased to one tenant.
• Carlton Court. One multi-tenant industrial property in South San
  Francisco, California located east of Highway 101 and less than two
  miles from San Francisco International Airport and 100% leased to two
  tenants. This property contains approximately 24,000 square feet and
  was acquired for a purchase price of approximately $3.6 million.
• Troy Hill. One multi-tenant industrial property in Elkridge, Maryland
  located in the Troy Hill Industrial Park, a Baltimore/Washington
  corridor park between Interstate 95 and US Route 1 and adjacent to
  Maryland Highway 100. This property is 90% leased to two tenants,
  contains approximately 66,000 square feet and was acquired for a
  purchase price of approximately $6.7 million including an assumed
  mortgage loan with a total principal amount of approximately $3.6
  million with a fixed annual interest rate of 5.9% that matures on
  August 1, 2014.
• NW 26^th Street. Two industrial buildings in Miami, Florida
  located approximately one mile from the west cargo area of Miami
  International Airport and 100% leased to one tenant. This property
  contains approximately 138,000 square feet and was acquired for a
  purchase price of approximately $12.1 million including an assumed
  mortgage loan with a total principal amount of approximately $6.2
  million with a fixed annual interest rate of 5.8% that matures on
  March 1, 2014.

Operations

As of September 30, 2012, Terreno Realty Corporation owned a total of 63
buildings aggregating approximately 4.8 million square feet, which were
approximately 92.6% leased to 97 tenants.

The leased percentage increased from 91.3% at June 30, 2012 and 74.0% at
September 30, 2011.

Capital Markets

During the second quarter of 2012, Terreno Realty Corporation issued
1,840,000 shares of 7.75% Series A Perpetual Preferred Stock at $25.00
per share, generating approximately $44.3 million in net proceeds.

Additional information is available on the company’s website at www.terreno.com.
Terreno Realty Corporation expects to file its quarterly report on Form
10-Q for the quarter ended September 30, 2012 on or about November 7,
2012.

Terreno Realty Corporation is an acquirer, owner and operator of
industrial real estate 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 risks related to our ability to meet our estimated
forecasts related to stabilized cap rates and those risk factors
contained in our Annual Report on Form 10-K for the year ended December
31, 2011 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.istockanalyst.com/business/news/6080850/terreno-realty-corporation-announces-quarterly-investment-operating-and-capital-markets-activity

SAN FRANCISCO–(BUSINESS WIRE)– Terreno Realty Corporation (NYS: TRNO) , an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired two industrial buildings containing approximately 138,000 square feet located in Miami, Florida on September 25, 2012 for a purchase price of approximately $12.1 million. As part of the acquisition Terreno Realty Corporation assumed a mortgage loan with a total principal amount of approximately $6.2 million with a fixed annual interest rate of 5.84%. The mortgage loan has a maturity date of March 2014.

The buildings are at 7500-7600 NW 26^th Street in Miami’s Airport West submarket, approximately one mile from the west cargo area of Miami International Airport and 100% leased to one tenant. The estimated stabilized cap rate of the property is 7.4%.

Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer’s due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.

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.

Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.

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 risks related to our ability to meet our estimated forecasts related to stabilized cap rates and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2011 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.

Terreno Realty Corporation
W. Blake Baird
Michael A. Coke
415-655-4580

KEYWORDS:   United States  North America  California  Florida

INDUSTRY KEYWORDS:

Article source: http://www.dailyfinance.com/2012/09/25/terreno-realty-corporation-acquires-buildings-in-m/

The Board of Directors declared a dividend of $0.3875 per preferred
share on Terreno Realty Corporation’s 7.75% Series A Cumulative
Redeemable preferred stock. The preferred dividend will be payable
October 1, 2012 to preferred stockholders of record at the close of
business on September 10, 2012.

Terreno Realty Corporation is an acquirer, owner and operator of
industrial real estate 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.

Additional information about Terreno Realty Corporation is available on
the company’s web site at www.terreno.com.

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 risks related to our ability to meet our estimated
forecasts related to stabilized cap rates and those risk factors
contained in our Annual Report on Form 10-K for the year ended December
31, 2011 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/20120803005645/en/Terreno-Realty-Corporation-Declares-Quarterly-Dividends

The property consists of one industrial building containing
approximately 75,000 square feet. The property is currently vacant and
is at 1401 NW 78^th Avenue in Doral, adjacent to the Palmetto
Expressway and the west cargo area of Miami International Airport. The
estimated stabilized cap rate of the property is 7.2%.

Estimated stabilized cap rates are calculated as annualized cash basis
net operating income stabilized to market occupancy (generally 95%)
divided by total acquisition cost. Total acquisition cost includes the
initial purchase price, the effects of marking assumed debt to market,
buyer’s due diligence and closing costs, estimated near-term capital
expenditures and leasing costs necessary to achieve stabilization.

Terreno Realty Corporation is an acquirer, owner and operator of
industrial real estate 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.

Additional information about Terreno Realty Corporation is available on
the company’s web site at www.terreno.com.

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 risks related to our ability to meet our estimated
forecasts related to stabilized cap rates and those risk factors
contained in our Annual Report on Form 10-K for the year ended December
31, 2011 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://eon.businesswire.com/news/eon/20120724005431/en

Two RD buildings aggregating approximately 101,000 square feet are at
904 East Caribbean Drive and 1339 Moffett Park Drive and one
distribution building of approximately 71,000 square feet is at 914-918
East Caribbean Drive, within Silicon Valley’s Moffett Park submarket.
The properties are adjacent to Highways 237 and 101 and are 100% leased
to two tenants. The estimated stabilized cap rate of the property is
7.1%.

Estimated stabilized cap rates are calculated as annualized cash basis
net operating income stabilized to market occupancy (generally 95%)
divided by total acquisition cost. Total acquisition cost includes the
initial purchase price, the effects of marking assumed debt to market,
buyer’s due diligence and closing costs, estimated near-term capital
expenditures and leasing costs necessary to achieve stabilization.

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.

Additional information about Terreno Realty Corporation is available on
the company’s web site at www.terreno.com.

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 risks related to our ability to meet our estimated
forecasts related to stabilized cap rates and those risk factors
contained in our Annual Report on Form 10-K for the year ended December
31, 2011 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/20120705005110/en/Terreno-Realty-Corporation-Acquires-Buildings-Sunnyvale-CA

SAN FRANCISCO, Mar 19, 2012 (BUSINESS WIRE) –
Terreno Realty Corporation


/quotes/zigman/580648/quotes/nls/trno TRNO
-0.35%



acquired an industrial
property located in Sterling, Virginia on March 16, 2012 for a purchase
price of approximately $6.1 million.

The property consists of one industrial building containing
approximately 69,000 square feet. The property is currently 100% leased
to one tenant. The rear load distribution building is located
approximately one mile from the north entrance of Washington Dulles
International Airport. The estimated stabilized cap rate of the property
is 7.5%.

Estimated stabilized cap rates are calculated as annualized cash basis
net operating income stabilized to market occupancy (generally 95%)
divided by total acquisition cost. Total acquisition cost includes the
initial purchase price, the effects of marking assumed debt to market,
buyer’s due diligence and closing costs, estimated near-term capital
expenditures and leasing costs necessary to achieve stabilization.

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.

Additional information about Terreno Realty Corporation is available on
the company’s web site at
www.terreno.com .

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 risks related to our ability to meet our estimated
forecasts related to stabilized cap rates and those risk factors
contained in our Annual Report on Form 10-K for the year ended December
31, 2011 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.

SOURCE: Terreno Realty Corporation

        Terreno Realty Corporation
        W. Blake Baird, 415-655-4580
        Michael A. Coke, 415-655-4580

Copyright Business Wire 2012

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Article source: http://www.marketwatch.com/story/terreno-realty-corporation-acquires-building-in-sterling-va-for-61-million-2012-03-19