Terreno Realty Corporation acquired Portfolio of industrial properties located in New York, New Jersey, San Francisco and Los Angeles for approximately $360 million.
May 01, 2024
Share
Terreno Realty Corporation (NYSE:TRNO) acquired Portfolio of industrial properties located in New York, New Jersey, San Francisco and Los Angeles for approximately $360 million on May 2, 2024. Goldman Sachs & Co. LLC acted as financial advisor to Terreno Realty Corporation on the acquisition. Eric L. Altman, David D'Amour, Laura C. D'Iorio, Sally Elshihabi, Chad R. Ensz, Jeffrey S. Gardner, David M. Hymer, Zana Operta, E. Gail Suchman, Kristine T. Truong and Michael S. Umansky of Sheppard, Mullin, Richter & Hampton LLP acted as legal advisors to Terreno.
Terreno Realty Corporation (NYSE:TRNO) completed the acquisition of Portfolio of industrial properties located in New York, New Jersey, San Francisco and Los Angeles on May 2, 2024. The portfolio was acquired from an unrelated third party using existing cash on hand and net proceeds from the issuance of common stock.
Terreno Realty Corporation acquires, owns, and operates industrial real estate in six coastal markets in the United States, such as Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami, and Washington, District of Columbia. It invests in a range of industrial real estate, including warehouse/distribution, flex (including light industrial and research and development), trans-shipment and improved land. It also focuses on functional properties in infill locations that may be shared by multiple tenants and that cater to customer demand within the various submarkets in which it operates. It owns over 259 buildings, 45 improved land parcels consisting of approximately 152.4 acres and 10 properties under development or redevelopment and over 45.5 acres of land entitled for forthcoming development. It also owns industrial properties located in New York City, Northern New Jersey, San Francisco Bay Area, and Los Angeles, which consists of over 28 buildings.
Terreno Realty Corporation acquired Portfolio of industrial properties located in New York, New Jersey, San Francisco and Los Angeles for approximately $360 million.