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Terreno Realty establishes up to $250M ATM equity offering program

Terreno Realty Corp. aims to sell up to $250.0 million of its common shares from time to time under a newly established at-the-market equity offering program.

The industrial real estate investment trust said the new offering program replaces a previous one, under which it issued 2,383,901 common shares at $37.26 apiece for $88.8 million in gross proceeds.

In connection with the new program, Terreno Realty struck separate equity distribution deals with KeyBanc Capital Markets Inc., Robert W. Baird & Co. Inc., BTIG LLC, Goldman Sachs & Co. LLC, Jefferies LLC, JMP Securities LLC, MUFG Securities Americas Inc., Sandler O'Neill & Partners LP and Stifel Nicolaus & Co. Inc. as sales agents.

Any net proceeds will go toward general corporate purposes, which may include future acquisitions and debt repayment, including borrowings under the company's credit facility.