Terreno Realty Buys Property In Washington, D.C. For $13.4M
Portfolio Pulse from Akanksha Bakshi
Terreno Realty Corporation (NYSE:TRNO) has acquired a 33,000 sq ft industrial property in Washington, D.C., for $13.4 million. The property is 100% leased with an estimated stabilized cap rate of 5.3%. TRNO shares are trading lower by 1.41% at $59.59.
May 24, 2023 | 3:27 pm
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Terreno Realty acquires a Washington, D.C. industrial property for $13.4M. The property is fully leased with a 5.3% cap rate. TRNO shares are down 1.41%.
Terreno Realty's acquisition of the industrial property in Washington, D.C. for $13.4 million is a significant investment for the company. The property is fully leased, which indicates stable income generation. However, the stock price is down 1.41%, which could be due to market reaction to the acquisition or other factors. The news is highly relevant and important for TRNO investors, and the negative short-term impact on the stock price is likely due to the acquisition.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100