Terreno Realty (TRNO) announced it acquired an industrial property in Long Island City Queens, New York on April 24 for approximately $7.6M. The property consists of one 20,000 sq. ft. industrial distribution building on 0.5 acres. It is 100% leased through December 2027 to a commercial bakery and kitchen, with an estimated stabilized cap rate of 4.6%.
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Read More on TRNO:
- Terreno Realty price target lowered to $60 from $61 at Piper Sandler
- Terreno Realty acquires industrial property in Washington
- Terreno Realty reports 96.6% quarter-end occupancy
- Terreno Realty price target lowered to $57 from $68 at Scotiabank
- Terreno Realty downgraded to Neutral from Overweight at Piper Sandler