This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Terreno Realty Corporation Announces Quarterly Investment, Operating And Capital Markets Activity

Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, announced today its quarterly investment, operating and capital markets activity for the second quarter of 2012.


During the second quarter of 2012, Terreno Realty Corporation acquired two industrial properties consisting of six buildings containing approximately 707,000 square feet for an aggregate purchase price of approximately $68.5 million as follows:

  • Garfield. Five industrial buildings in Commerce, California located in the Mid-Counties submarket with direct access to the I-5, I-710 and I-605 expressways and 79% leased to 14 tenants. This property contains approximately 545,000 square feet and was acquired for a purchase price of approximately $52.4 million.
  • Whittier. One industrial property in Whittier, California located on Whittier Boulevard in the Mid-Counties submarket with access to the I-605 and I-5 expressways and 100% leased to one tenant. This property contains approximately 162,000 square feet and was acquired for a purchase price of approximately $16.1 million.

Further, on July 3, 2012, Terreno Realty Corporation acquired two R&D buildings and one distribution building (Caribbean) in Sunnyvale, California for a purchase price of approximately $33.7 million, aggregating approximately 172,000 square feet and 100% leased to two tenants. The buildings are within Silicon Valley’s Moffett Park submarket and are adjacent to Highways 237 and 101.


As of June 30, 2012, Terreno Realty Corporation owned a total of 54 buildings aggregating approximately 4.2 million square feet, which were approximately 91.3% leased to 85 tenants. The leased percentage decreased from 92.9% at March 31, 2012 and increased from 71.6% at June 30, 2011.

Capital Markets

During the second quarter of 2012, Terreno Realty Corporation:

  • Closed a $39.8 million non-recourse mortgage loan at a fixed annual interest rate of 3.65% that matures on March 5, 2020.
  • Expanded its $80.0 million senior revolving credit agreement to $100.0 million by exercising its accordion option.

Additional information is available on the company’s website at Terreno Realty Corporation expects to file its quarterly report on Form 10-Q for the quarter ended June 30, 2012 on or about August 8, 2012.

Terreno Realty Corporation is an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C./Baltimore.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs