Terreno Realty Corporation (TRNO)

Terreno Realty Corporation has acquired an industrial property in Redmond, Washington, for approximately $8.0 million. The property, located at 9680 153rd Avenue NE, consists of a 21,000-square-foot industrial distribution building on 1.5 acres, adjacent to an existing Terreno property. The acquisition is expected to yield an estimated stabilized cap rate of 5.9%.

Terreno Realty has acquired an industrial building in Redmond for $8 million, expanding its Eastside portfolio with a contiguous industrial block near the Sammamish River. This acquisition comes as industrial leasing activity in the Puget Sound region is experiencing a slowdown.

Terreno Realty Corporation has acquired an industrial property in Redmond, Washington for approximately $8.0 million. The property consists of a 21,000 square foot industrial distribution building on 1.5 acres, adjacent to an existing Terreno property. The company estimates a stabilized cap rate of 5.9% for the currently vacant facility.

Terreno Realty Corporation (NYSE:TRNO) has acquired an industrial property in Redmond, Washington for approximately $8.0 million. The property, located at 9680 153rd Avenue NE, consists of a 21,000 square foot industrial distribution building on 1.5 acres and is currently vacant. The estimated stabilized cap rate for this acquisition is 5.9%.

Cantor Fitzgerald has increased its price target for Terreno Realty Corp (NYSE:TRNO) to $77 from $75, maintaining an Overweight rating. This upgrade reflects the firm's optimism regarding the industrial real estate investment trust's leasing and capital deployment outlook, driven by improved market conditions and strong operational performance, including a 97.6% occupancy rate. The company's consistent dividend increases and recent property acquisitions also contribute to the positive sentiment.