- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
