Business
Terreno Realty Corporation Acquires Portfolio in Doral, FL and Kearny, NJ for $194.3 Million
BELLEVUE, Wash., September 10, 2025--Terreno Realty Corporation Acquires Portfolio in Doral, FL and Kearny, NJ for $194.3 Million
About this update from Terreno Realty Corporation
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":410,"height":480,"url":"https://media.zenfs.com/en/business-wire.com/8efab77f53689044dc2bd0e31c978798"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/pjHUyEEwxQjoTocSb6emmA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTgyNTtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/8efab77f53689044dc2bd0e31c978798","width":410,"height":480}},"lazy":false},{"type":"text","content":"- Completes $426.9 Million Multi-Market Portfolio Acquisition","length":61,"tagName":"p","attribs":{}},{"type":"text","content":"BELLEVUE, Wash., September 10, 2025--(BUSINESS WIRE)--Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired industrial properties located in Doral, Florida and Kearny, New Jersey on September 9, 2025 for a purchase price of approximately $194.3 million.","length":341,"tagName":"p"},{"type":"text","content":"The portfolio consists of three industrial distribution buildings containing approximately 509,000 square feet on 27.6 acres. The portfolio is approximately 36% leased to five tenants.","length":184,"tagName":"p"},{"type":"text","content":"The acquisition completes a multi-market portfolio of approximately 1.2 million square feet for a total purchase price of $426.9 million. Terreno Realty Corporation acquired the Woodinville, Washington portion of the portfolio in August 2025. The estimated stabilized cap rate of the multi-market portfolio is 5.0%.","length":315,"tagName":"p"},{"type":"text","content":"Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer’s due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.","length":416,"tagName":"p"},{"type":"text","content":"Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle and Washington, D.C.","length":220,"tagName":"p"},{"typ...