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Terreno Realty Corporation Acquires Building in Hayward for $7.6 Million

Sun, 18 Dec 2011 15:16:52 +0000

SAN FRANCISCO, Dec 16, 2011 (BUSINESS WIRE) –
Terreno Realty Corporation

/quotes/zigman/580648/quotes/nls/trno TRNO
+0.98%

acquired an industrial
property located in Hayward, California on December 15, 2011 for a
purchase price of approximately $7.6 million.

The property consists of one trans-shipment industrial building
containing approximately 34,000 square feet on approximately 10.2 acres.
The 66 door truck terminal is adjacent to California Route 92 which
traverses the San Mateo Bridge, convenient to Interstate 880 and is 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, 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.

SOURCE: Terreno Realty Corporation


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

/quotes/zigman/580648/quotes/nls/trno

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Article source: http://www.marketwatch.com/story/terreno-realty-corporation-acquires-building-in-hayward-for-76-million-2011-12-16

Terreno Realty Corporation Acquires Buildings in Miami Gardens for $7.2 Million

Fri, 16 Dec 2011 08:41:38 +0000

SAN FRANCISCO, Dec 15, 2011 (BUSINESS WIRE) –
Terreno Realty Corporation

/quotes/zigman/580648/quotes/nls/trno TRNO
+2.08%

acquired an industrial
property located in Miami Gardens, Florida on December 15, 2011 for a
purchase price of approximately $7.2 million.

The property consists of one trans-shipment industrial building and
separate maintenance facility containing approximately 58,000 square
feet on approximately 13.0 acres. The 86 door truck terminal is adjacent
to the Palmetto Expressway in northern Miami-Dade County and is 100%
leased to one tenant. The estimated stabilized cap rate of the property
is 7.3%.

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

Forward-Looking Statements

SOURCE: Terreno Realty Corporation


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

/quotes/zigman/580648/quotes/nls/trno

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Article source: http://www.marketwatch.com/story/terreno-realty-corporation-acquires-buildings-in-miami-gardens-for-72-million-2011-12-15

TERRENO REALTY Corp. Reports Operating Results (10-K)

Fri, 25 Feb 2011 05:23:38 +0000

TERRENO REALTY Corp. (TRNO) filed Annual Report for the period ended 2010-12-31.

Terreno Realty Corp. has a market cap of $161.5 million; its shares were traded at around $17.45 .

Mutual Fund and Other Gurus that owns TRNO: Third Avenue Management.

Highlight of Business Operations:

Terreno Realty Corporation (?Terreno?, and together with its subsidiaries, ?we?, ?us?, ?our,? ?our company? or ?the company?) is an internally managed Maryland corporation focused on acquiring, owning and operating industrial real estate located in six major coastal U.S. markets: Los Angeles Area; Northern New Jersey/New York City; San Francisco Bay Area; Seattle Area; Miami Area; and Washington, D.C./Baltimore. We invest in several types of industrial real estate, including warehouse/distribution, flex (including light industrial and RD) and trans-shipment. We target functional buildings in infill locations that may be shared by multiple tenants and that cater to customer demand within the various submarkets in which we operate. Infill locations are geographic locations surrounded by high concentrations of already developed land and existing buildings. As of December 31, 2010, we owned a total of 33 buildings in five of the above markets aggregating approximately 2.4 million square feet, which we purchased for an aggregate purchase price of approximately $134.4 million, including the assumption of mortgage loans payable of approximately $17.9 million. As of December 31, 2010, our tenants Home Depot, Precision Custom Coating and YRC, Inc. accounted for approximately 17.4%, 14.9% and 11.5%, respectively, of our total annualized base rent.

We were incorporated in November 2009 and on February 16, 2010, we completed both our initial public offering of 8,750,000 shares of our common stock and a concurrent private placement of an aggregate of 350,000 shares of our common stock to our executive officers at a price per share of $20.00. We estimate that the net proceeds of our initial public offering were approximately $162.8 million after deducting the full underwriting discount of approximately $10.5 million and other estimated offering expenses of approximately $1.7 million. The underwriters agreed to forego the receipt of payment of $0.80 per share, or approximately $7.0 million in the aggregate, until such time as we purchase assets in accordance with our investment strategy as described in this Annual Report on Form 10-K with an aggregate purchase price (including the amount of any outstanding indebtedness assumed or incurred by us) at least equal to the net proceeds from our initial public offering (after deducting the full underwriting discount and other estimated offering expenses payable by us), at which time, we have agreed to pay the underwriters the remainder of the underwriting discount. We received net proceeds of approximately $7.0 million from our concurrent private placement. In the aggregate, we had approximately $169.8 million in cash available to execute our business strategy upon completion of our initial public offering and the concurrent private placement on February 16, 2010.

Read the The complete Report

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Article source: http://www.gurufocus.com/news.php?id=123558