Terreno Realty Acquires Industrial Property For $186M

Terreno Realty Corporation (NYSE:TRNO) has acquired an industrial property located in Newark, California, for a purchase price of ~$186 million.
The purchased property consists of four industrial distribution buildings containing ~603,000 sq. ft. on 30.5 acres.
The property provides 86 dock-high and eight grade-level loading positions and parking for 730 cars.
The property is 100% leased to four tenants with leases expiring between 2026 and 2032. The estimated stabilized cap rate is 4.6%.
Price Action: TRNO shares are trading higher by 1.63% at $64.28 on the last check Friday.