Terreno Realty Corporation Announces Offering Of 5M Shares of Common Stock

Author: Benzinga Newsdesk | March 25, 2024 04:04pm
Terreno Realty Corporation (NYSE:TRNO) (the "Company"), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, announced today that it has commenced an offering of 5,000,000 shares of its common stock. The underwriters will be granted a 30-day option to purchase up to an additional 750,000 shares of common stock. The Company intends to use the net proceeds from the offering for future acquisitions, including the acquisition of a portfolio of industrial properties comprised of 28 buildings totaling 1,245,000 square feet located in New York City, Northern New Jersey, San Francisco Bay Area and Los Angeles and other properties that are currently subject to purchase and sale agreements or letters of intent, funding for development and redevelopment properties, and for other general corporate purposes. Goldman Sachs & Co. LLC and KeyBanc Capital Markets Inc. are serving as underwriters for the offering.

Posted In: TRNO