Terreno Realty Corporation, a real estate investment trust (REIT) focused on industrial properties, has announced its acquisition of an industrial campus located in the East Bay area of San Francisco. The campus comprises three industrial buildings totaling approximately 400,000 square feet of space and is fully leased to multiple tenants.
The acquisition of the East Bay industrial campus is in line with Terreno Realty’s strategy of acquiring high-quality industrial properties in major coastal markets. The East Bay area, which includes cities such as Oakland and Berkeley, is a key logistics hub for the San Francisco Bay Area, and the acquisition of this industrial campus will further expand Terreno Realty’s presence in the region.
“We are pleased to add this high-quality industrial campus to our portfolio,” said W. Blake Baird, Chairman and CEO of Terreno Realty. “This acquisition is consistent with our strategy of acquiring well-located, functional industrial real estate in major coastal markets.”
Terreno Realty owns and operates industrial properties in six major coastal markets in the United States, including the San Francisco Bay Area, Los Angeles, Seattle, Miami, Northern New Jersey, and Washington D.C. Its portfolio consists of over 200 properties totaling more than 14 million square feet of space.
The East Bay industrial campus is located in a highly desirable location, with convenient access to major highways and ports. The buildings are modern, high-quality facilities with features such as high ceilings, dock-high loading, and ample parking, making them ideal for a range of industrial uses.
“We believe that the East Bay area will continue to be a key logistics hub for the San Francisco Bay Area, and this acquisition will position us well to benefit from the continued growth and demand for industrial space in the region,” said Baird.
In conclusion, Terreno Realty’s acquisition of the East Bay industrial campus is a strategic move that will further strengthen the company’s position in the San Francisco Bay Area industrial real estate market. With its focus on acquiring high-quality industrial properties in major coastal markets, Terreno Realty is well-positioned to capitalize on the continued growth and demand for industrial space in these markets.