Terreno Realty Acquires $49.5M Industrial Property in Santa Ana

Terreno Realty Corporation has expanded its industrial real estate portfolio by acquiring a property in Santa Ana, California, for approximately $49.5 million. The 134,000 square foot industrial distribution building sits on 12.1 acres of industrial-zoned land near Interstate 405 and is fully leased to a major home improvement retailer, operating as a retail location. The acquisition is expected to generate a stabilized capitalization rate of about 5.7%, reflecting Terreno's strategic focus on value-accretive investments in key coastal U.S. markets including Los Angeles, New York City, Miami, San Francisco, Seattle, and Washington, D.C. Market analysts have a favorable outlook on Terreno Realty, with an average price target suggesting roughly 10% upside and a consensus brokerage recommendation of "Outperform." GuruFocus estimates an even higher potential upside of over 33% based on fair value calculations, highlighting investor confidence in the company's growth prospects amid ongoing portfolio expansion.