Terreno Realty Acquires California Property For $7.3M

by Shivani Kumaresan, Benzinga Staff Writer

September 7, 2022 10:36 AM | 1 min read | Make a Comment

Terreno Realty Corp 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.

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