Terreno Realty Sells Industrial Property in Union City

Core Viewpoint - Terreno Realty Corporation (TRNO) is actively optimizing its portfolio through strategic dispositions to enhance financial performance and maintain flexibility for long-term growth [1][3]. Group 1: Dispositions and Financial Strategy - TRNO sold a vacant industrial distribution building in Union City, CA, for approximately $16.9 million on January 7, 2025, as part of its financing strategy [1]. - The company previously acquired the property on March 26, 2015, for$7.4 million, yielding an unleveraged internal rate of return of 13% [2]. - In Q4 2024, TRNO disposed of three industrial buildings totaling 112,000 square feet for about $33.6 million and a 5.7-acre land parcel in Newark, NJ, for approximately$29.8 million [3]. Group 2: Market Focus and Growth Potential - The company is focused on expanding its asset base in six major coastal U.S. markets, including Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, DC, due to strong demand for industrial real estate [4]. - TRNO is well-positioned for long-term growth opportunities, supported by a solid operating platform, healthy balance sheet, and prudent capital management practices [5]. Group 3: Performance Metrics and Analyst Sentiment - The Zacks Consensus Estimate for TRNO's 2025 funds from operations (FFO) per share has been raised to $2.67 [5]. - Over the past three months, TRNO shares have declined by 7.5%, which is better than the industry average decline of 10.3% [6].