Terreno Realty Announces Leases in Seattle, Sees Healthy Demand

Core Insights - Terreno Realty (TRNO) has executed a 63,000 square foot renewal lease in Seattle, WA, with a co-warehousing services provider, effective from July 1, 2026, to June 2033 [1][8] - The company has shown strong leasing activity, with its operating portfolio 97.7% leased and a same-store portfolio of 14.1 million square feet at 98.5% leased as of June 30, 2025 [3] - TRNO has successfully increased cash rents on new and renewed leases by 22.6% during the second quarter of 2025, with a tenant retention ratio of 71.1% [4] Leasing Activity - In addition to the Seattle lease, TRNO leased 100% of Countyline Corporate Park Phase IV Building 32 in Hialeah, FL, and signed a 72,000 square feet lease with an Asian food distributor, commencing upon tenant improvements expected in February 2026 and expiring in June 2036 [2] - The leased rate for TRNO's improved land portfolio of 47 parcels spanning 150.6 acres was 95.1% as of June 30, 2025 [3] Financial Performance - TRNO is well-positioned for long-term growth with a solid operating platform and a healthy balance sheet, despite macroeconomic uncertainties affecting customer decision-making [5] - Over the past month, TRNO's shares have gained 11.5%, outperforming the industry average of 3.7% [6]