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Terreno Realty Acquires California Property For $7.3M

Benzinga Real-time News · Sep 7, 2022 10:38

TRNO +1.48%

Terreno Realty Corp (NYSE:TRNO) has acquired an industrial property in Anaheim, California, for $7.3 million.
The 1.2-acre improved land parcel at 3091 East Coronado Street is adjacent to the intersection of CA SR 91 (The Riverside Freeway) and CA SR 57 (The Orange Freeway).
Further, Terreno Realty has executed a lease for the property commencing immediately and ending December 2027 with a Southern California investment group facilitating commissary services.
The lease will result in an estimated stabilized cap rate of 5.0%.
The company held $10 million in cash and equivalents as of June 30, 2022.
Price Action: TRNO shares are trading higher by 0.90% at $60.53 on the last check Wednesday.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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