Latest news with #industrialrealestate
Yahoo
27-05-2025
- Business
- Yahoo
The ginormous, record-breaking buildings being constructed in Swindon
The new Panattoni Park now under construction in Swindon will feature two huge, record-breaking buildings. Europe's largest developer of industrial and logistics real estate has started work on what is the largest project of its kind ever undertaken in the UK. The first phase includes the construction of a 915,000 sq ft speculative logistics building, which is going to be the biggest warehouse of its kind in the country. For comparison, that's the equivalent of approximately 12 football pitches or the size of a shopping mall. This, and the 545,000 sq ft unit under construction nearby, should be completed at some point in the first quarter of 2026. The commencement of work on this enormous facility follows the letting of Panattoni's previous record-breaking development, an 885,000 sq ft unit at Avonmouth. The wider Panattoni site also has detailed planning consent for a plot which is the largest single unit with planning permission in the UK. This centrepiece of the industrial estate measures 1.2 million sq ft, which is the equivalent of around 20 football pitches, is twice the size of the ground floor of Amazon's Symmetry Park warehouse, as big as the largest Lidl warehouse in the world (which is based in Houghton Regis), and roughly the same size as the ExCel London venue. It is available on a pre-let basis and can be delivered within 10 months. James Watson is head of development for Southern England and London at Panattoni UK. He said: 'Having recently leased Panattoni Park Avonmouth, the largest speculative warehouse to have ever been built in the country, I'm pleased to announce we are now commencing construction of an even larger speculative warehouse in Swindon.' Panattoni has spent several weeks demolishing the old Honda manufacturing plant and wider works so that the area can be given a new lease of life. The masterplan for the Panattoni site includes the three previously-mentioned buildings as well as seven more structures sized at 45,000, 60,000, 145,000, 205,000, 330,000 400,000, and 725,000 sq ft, respectively, which will be built as part of future phases which are yet to be detailed. Altogether, this investment of nearly one billion pounds into the transformation of the former Honda site will cover 7.2 million sq ft and hopes to attract £1.2 billion to the economy. It will also feature a community park and hub, a 'linear' park, relaxation areas, miles of trim trails and cycle routes around the area, wildflower meadows, and advanced landscaping.
Yahoo
26-05-2025
- Business
- Yahoo
Terreno Realty Sells Industrial Asset in Bellevue, Boosts Flexibility
Terreno Realty Corporation TRNO announced the disposition of an industrial property in Bellevue, WA. The sale was carried out for around $17.5 million. The moves highlight the REIT's strategy of doing away with non-core assets, boosting flexibility and building a more robust portfolio, which will aid future Realty purchased the property in November 2020 for $11.7 million. The investment yielded an unleveraged internal rate of return of 11.1% to the company. The property comprises a single industrial flex building of approximately 39,000 square feet situated on 2.1 acres of land and is currently Realty's strategic dispositions are an integral part of its ongoing efforts to optimize its portfolio and enhance its financial performance. In the first quarter of 2025, Terreno Realty sold two properties with two industrial distribution buildings spanning around 88,000 square feet at an aggregate sale value of around $24.9 the company remains focused on expanding its asset base in the six major coastal U.S. markets — Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, DC, as demand for industrial real estate space remains decent. These markets are characterized by strong demand generators, such as high population densities, high volume distribution points and logistics infrastructure, and constrained supply. As of March 31, 2025, TRNO had acquisitions worth around $55.9 million under contract and nearly $16 million under letters of intent. The completion of these is subject to due diligence and closing conditions. Terreno had five properties under development or redevelopment as of the same date. Post completion, these will comprise eight buildings spanning around 0.8 million square feet, which are 48% leased. The company also has around 22.4 acres of land dedicated to future developments at an estimated investment value of around $392.8 million. With a solid operating platform, a healthy balance sheet position and strategic expansion moves, TRNO seems well-positioned to capitalize on long-term growth opportunities, though macroeconomic uncertainty and policy changes remain concerns. In the past month, shares of this Zacks Rank #3 (Hold) company have declined 6.7% against the industry's growth of 0.8%. Image Source: Zacks Investment Research Some better-ranked stocks from the broader REIT sector are VICI Properties VICI and W.P. Carey WPC, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks Zacks Consensus Estimate for VICI's 2025 FFO per share is pegged at $2.34, suggesting year-over-year growth of 3.5%.The Zacks Consensus Estimate for WPC's 2025 FFO per share stands at $4.88, indicating an increase of 3.8% from the year-ago reported Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs. Want 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 Terreno Realty Corporation (TRNO) : Free Stock Analysis Report W.P. Carey Inc. (WPC) : Free Stock Analysis Report VICI Properties Inc. (VICI) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
