Terreno Leases 100% of Countyline Corporate Park Phase IV Building 33

Company Overview - Terreno Realty Corporation (TRNO) has successfully leased 100% of Countyline Corporate Park Phase IV Building 33 in Hialeah, FL, indicating strong demand for its properties [1] - The property has been leased to three tenants, including a third-party logistics provider for 105,000 square feet under a seven-year lease starting in March 2025 [2] Project Details - Countyline Corporate Park Phase IV is a 121-acre project entitled for 2.2 million square feet of industrial distribution buildings, located adjacent to TRNO's existing buildings in Phase III [3] - Building 33 is a 158,000-square-foot industrial distribution building with a total expected investment of $39.9 million and an estimated stabilized cap rate of 5.9% [4] - Upon completion in 2027, Countyline Corporate Phase IV will consist of ten LEED-certified buildings totaling approximately 2.2 million square feet, with an estimated investment of $511.5 million [5] Strategic Positioning - TRNO is well-positioned for long-term growth opportunities due to its solid operating platform, healthy balance sheet, and strategic expansion moves [6] - The Countyline project enhances TRNO's strategic positioning in the regional industrial real estate sector, expected to attract tenants and maintain high occupancy rates [6] Industry Context - The industrial real estate sector is experiencing significant growth driven by the rising e-commerce market, which is transforming consumer shopping and delivery methods [7] - Companies like TRNO, Prologis, and First Industrial Realty Trust are focusing on improving supply-chain efficiencies, increasing demand for logistics infrastructure and distribution networks [8]