Industrial real estate investment trust (REIT) Terreno Realty Corporation (NYSE:TRNO) has made the announcement of executing a lease deal at an Interstate property in South Brunswick, NJ. The lease, comprising an area of around 221,000 square feet, was inked with a third-party logistics provider.
The lease which is slated to start on Sep 1, 2016, will expire on Nov 31, 2021. Importantly, this deal will make the Interstate property fully-leased and is consistent with REIT’s strategy of enhancing its property portfolio in the major U.S. markets.
We expect this lease deal to boost Terreno Realty’s bottom line, going ahead. This San Francisco, CA-based REIT actively focuses on leveraging the improving fundamentals of industrial markets, bolstering its business in key coastal U.S. markets like Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, D.C./Baltimore.
Terreno Realty currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the REIT space include Brookfield Canada Office Properties (NYSE:BOXC) , Whitestone REIT (NYSE:WSR) and Gaming and Leisure Properties, Inc (NASDAQ:GLPI) . While Brookfield Canada Office Properties sports a Zacks Rank #1 (Strong Buy), both Whitestone REIT and Gaming and Leisure Properties carry a Zacks Rank #2 (Buy).
BROOKFLD CDA OP (BOXC): Free Stock Analysis Report
TERRENO REALTY (TRNO): Free Stock Analysis Report
WHITESTONE REIT (WSR): Free Stock Analysis Report
GAMING AND LEIS (GLPI): Free Stock Analysis Report
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