Terreno Realty Corporation TRNO is keeping its acquisition engine active, with its latest move centered on Hialeah Gardens, FL. The REIT acquired a 98,000-square-foot industrial distribution building at 10910 NW 144th Street for about $56.3 million. The property sits on 16.8 acres and is fully leased to a leading e-commerce company, making it an immediately income-producing addition to Terreno’s Miami portfolio.
This deal looks strategic for Terreno because it deepens the company’s presence in one of its core coastal logistics markets. The property is advantageously located adjacent to Florida’s Turnpike and Okeechobee Road intersection, along with parking spaces for 596 cars, nine dock-high loading positions and six grade-level loading positions. With a 5% estimated stabilized cap rate, the return is not aggressive, but the asset’s location, tenant profile and full occupancy make it a strategic long-term fit.
The Hialeah Gardens purchase is also part of a wider buying push. Terreno recently acquired a 305,000-square-foot property in Landover, MD, for $77.1 million, a 50,000-square-foot asset in Alexandria, VA, for $13.0 million and a 65,000-square-foot property in San Francisco, CA, for $25.9 million. These acquisitions show the industrial landlord is still willing to deploy capital across high-barrier markets where logistics space remains valuable.
Terreno’s operating backdrop remains supportive. At the end of the first quarter of 2026, Terreno’s operating portfolio was 96.3% leased, while cash rents on new and renewed leases rose 22.4%. It also reported $101.8 million of first-quarter acquisitions and raised $135.0 million through its at-the-market equity program while adding a new $200 million term loan, giving it capital to keep expanding.
For investors, Terreno’s acquisition spree signals confidence in demand for infill industrial real estate. High occupancy, strong rent growth, premium coastal-market exposure and a focused expansion strategy augur well for Terreno.
Over the past three months, shares of this Zacks Rank #2 (Buy) company have gained 6.6% compared with the industry’s growth of 9%.
Image Source: Zacks Investment Research
Other Stocks to Consider
Some other top-ranked stocks from the industrial REIT sector are Prologis PLD and Stag Industrial STAG, carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for PLD’s 2026 FFO per share is pegged at $6.18, which indicates year-over-year growth of 6.4%.
The consensus estimate for Stag Industrial’s full-year FFO per share is pinned at $2.63, which calls for a 3.1% increase from the year-ago period.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) — a widely used metric to gauge the performance of REITs.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
Free: See Our Top Stock And 4 Runners UpWant 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
Prologis, Inc. (PLD): Free Stock Analysis Report
Terreno Realty Corporation (TRNO): Free Stock Analysis Report
Stag Industrial, Inc. (STAG): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).