Terreno Realty Expands Portfolio With Property Buyout in Queens

Terreno Realty TRNO has announced the acquisition of an industrial property in Long Island City, Queens, NY, for $16 million, in line with its acquisition-driven growth strategy. The transaction marks an estimated stabilized cap rate of 3.9%.Located at 11-40 Borden Avenue, the property comprises one industrial distribution building containing roughly 36,000 square feet on 1 acres. It is 100% leased to an insulation distributor through May 2028. With an advantageous location adjacent to the entrance to the Queens-Midtown Tunnel and the Pulaski Bridge, the property is likely to lure tenants. Therefore, this acquisition seems a strategic fit.TRNO’s Portfolio Growth Through Strategic MovesTRNO has been actively restructuring its portfolio by disposing of non-core assets and acquiring value-accretive investments. Such efforts will aid long-term revenue growth. Last week, the company acquired an industrial property in Los Angeles, CA, for around $10 million. In May 2025, it sold two properties at an aggregate sale value of around $114.5 million. As of May 6, 2025, TRNO had acquisitions worth around $49 million under contract and nearly $75.8 million under letters of intent.Moreover, as of March 31, 2025, Terreno had five properties under development or redevelopment. Post completion, these will comprise eight buildings spanning around 0.8 million square feet, which are 48% pre-leased. The company has around 22.4 acres of land dedicated to future developments at an estimated investment value of around $392.8 million.With such expansion efforts, Terreno Realty is well-poised to enhance its portfolio in six major coastal U.S. markets, namely New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle and Washington, D.C. These markets display solid demographic trends and witness healthy demand for industrial real estate. However, macroeconomic uncertainty and tariff risks remain concerns.Shares of this Zacks Rank #3 (Hold) company have gained 4.5% in the past month compared with the industry’s rise of 2.6%. Image Source: Zacks Investment Research Stocks to ConsiderSome better-ranked stocks from the broader REIT sector are Omega Healthcare Investors OHI and W.P. Carey WPC, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.The Zacks Consensus Estimate for OHI’s 2025 FFO per share has moved one cent northward to $3.02 over the past two months.The Zacks Consensus Estimate for WPC’s 2025 FFO per share has been raised 1% upward to $4.88 over the past month.Note: Anything related to earnings presented in this write-up represents FFO, a widely used metric to gauge the performance of REITs.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Omega Healthcare Investors, Inc. (OHI): Free Stock Analysis Report Terreno Realty Corporation (TRNO): Free Stock Analysis Report W.P. Carey Inc. (WPC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks