Terreno Realty Corporation Acquires Property In Brooklyn, NY For $27.5M
Portfolio Pulse from Benzinga Newsdesk
Terreno Realty Corporation (NYSE:TRNO) has acquired an industrial property in Red Hook, Brooklyn, New York for approximately $27.5 million. The property, which is 66% leased to 19 tenants, consists of one industrial flex building of about 96,000 square feet on 3.8 acres. The estimated stabilized cap rate is 6.4%.
October 12, 2023 | 1:20 pm
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POSITIVE IMPACT
Terreno Realty's acquisition of a $27.5M industrial property in Brooklyn could potentially increase its revenue stream, given that the property is 66% leased. The estimated stabilized cap rate of 6.4% indicates a reasonable return on investment.
The acquisition of the industrial property in Brooklyn by Terreno Realty is a strategic move that could potentially increase its revenue, given that the property is already 66% leased. The estimated stabilized cap rate of 6.4% suggests that the company could expect a reasonable return on its investment. This could have a positive impact on the company's stock in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100