Terreno Realty Corporation Acquires Property In Santa Ana, CA For $14.8M
Portfolio Pulse from Happy Mohamed
Terreno Realty Corporation (NYSE:TRNO) has acquired an industrial property in Santa Ana, California for approximately $14.8 million. The property will be redeveloped into a 92,000 square foot industrial distribution building, with completion expected in Q1 2025. The redeveloped property is 100% pre-leased to a provider of temperature-controlled life sciences supply chain solutions.
September 07, 2023 | 1:25 pm
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POSITIVE IMPACT
Terreno Realty's acquisition of the Santa Ana property for redevelopment could potentially increase its asset base and future revenues, given that the redeveloped property is already 100% pre-leased.
The acquisition of the Santa Ana property by Terreno Realty is a strategic move that could potentially increase its asset base and future revenues. The fact that the redeveloped property is already 100% pre-leased indicates a guaranteed source of revenue once the redevelopment is completed. This could positively impact the company's stock in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100