Terreno Realty Corporation 10-K filed Feb 4, 2026

Modified · Overview

Terreno Realty Corporation (“Terreno”, and together with its subsidiaries, “we”, “us”, “our”, “our Company” or “the Company”) 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. We invest in several types of industrial real estate, including warehouse/distribution (approximately 79.780.5% of our total annualized base rent as of December 31, 20242025), flex (including light industrial and research and development, or R&D) (approximately 3.4%), transshipment (approximately 6.0%) and improved land (approximately 10.910.1%). We target functional properties in infill locations that may be shared by multiple tenants and that cater to customer demand within the various submarkets in which we operate. Infill locations are geographic locations surrounded by high concentrations of already developed land and existing buildings. As of December 31, 20242025, we owned a total of 299309 buildings (including one building held for sale) aggregating approximately 19.319.8 million square feet, 4746 improved land parcels consisting of approximately 150.6147.0 acres, and six properties under development or redevelopment and approximately 22.4 acres of land entitled for future development. As of December 31, 20242025, the buildings and improved land parcels were approximately 97.496.1% and 95.195.4% leased, respectively, to 670683 customers, the largest of which accounted for approximately 5.54.9% of our total annualized base rent.