Terreno Realty Corp

Terreno Realty Corporation acquires, owns, and operates industrial real estate in six major coastal U.S. markets: New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C. The company invests in several types of industrial real estate. As of December 31, 2025, warehouse/distribution properties accounted for approximately 80.5% of total annualized base rent, flex properties (including light industrial and research and development) accounted for approximately 3.4%, transshipment properties accounted for approximately 6.0%, and improved land accounted for approximately 10.1%. Terreno targets functional properties in infill locations, which are geographic areas surrounded by high concentrations of developed land and existing buildings. These properties may be shared by multiple tenants and cater to customer demand within their submarkets. As of December 31, 2025, Terreno owned a total of 309 buildings (including one building held for sale) aggregating approximately 19.8 million square feet, 46 improved land parcels consisting of approximately 147.0 acres, and six properties under development or redevelopment. As of the same date, the buildings were approximately 96.1% leased and improved land parcels were approximately 95.4% leased to 683 customers. The largest customer accounted for approximately 4.9% of the company's total annualized base rent. Terreno is an internally managed Maryland corporation and has been taxed as a REIT since December 31, 2010.