BELLEVUE, Wash. – Terreno Realty Corporation (NYSE: NYSE:TRNO), known for its industrial real estate portfolio in prime coastal U.S. markets, announced the commencement of a public offering of 5 million shares of common stock today. In addition to the initial offering, underwriters have the option to purchase up to an additional 750,000 shares within a 30-day period.
The proceeds from this offering are earmarked for a range of strategic initiatives, including the acquisition of a substantial portfolio of industrial properties across key urban locations such as New York City, Northern New Jersey, the San Francisco Bay Area, and Los Angeles.
The identified portfolio encompasses 28 buildings, totaling approximately 1.245 million square feet. Additionally, the funds are intended for the development and redevelopment of properties, as well as for other general corporate purposes.
Goldman Sachs & Co (NYSE:GS). LLC and KeyBanc Capital Markets Inc. have been appointed as the underwriters for the offering. The sale of these securities will be conducted under an effective shelf registration statement and will be available through a prospectus and prospectus supplement, which can be obtained from the Securities and Exchange Commission's website or directly from the underwriters.
This press release does not serve as an offer to sell or a solicitation of an offer to buy the securities, and there will be no sale of these securities in any state or jurisdiction where such an offer, solicitation, or sale would be illegal before registration or qualification under the securities laws of such state or jurisdiction.
Terreno Realty Corporation specializes in acquiring, owning, and operating industrial real estate in six major coastal markets, including Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C.
Investors are advised to exercise caution with forward-looking statements, which are based on current management beliefs and information. These statements are not guarantees of future performance and are subject to risks, uncertainties, and assumptions.
Actual results may differ materially from those projected due to various known and unknown risks and trends. The information is based on a press release statement from Terreno Realty Corporation.
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