Initial Public Offering
Baird served as a co-manager in this offering.
AboutTerreno Realty Corporation (“Terreno” or the “Company”)(NYSE: TRNO) recently completed an initial public offering of 8,750,000 shares of its common stock at $20.00 per share, generating gross proceeds of $175 million. The Company intends to use the net proceeds from the offering to invest in industrial properties in accordance with its investment strategy and for general business purposes. The underwriters will have the option to purchase up to an additional 1,312,500 shares to cover over-allotments.
Terreno is a newly organized, internally managed Maryland corporation focused on acquiring industrial real estate located in six major coastal U.S. markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C./Baltimore. The Company intends to invest in several types of industrial real estate, including warehouse/distribution, flex (including light manufacturing and research and development, or R&D) and trans-shipment. The Company will target functional buildings in infill locations that may be shared by multiple tenants and that cater to customer demand within the various submarkets in which the Company operates.
For additional information about this transaction, please contact:
- February 2010
- Terreno Realty Corporation
- Real Estate
- Target Location
- North America