Terreno Realty Pre-Leases 100% of Building 36, Sees Strong Demand

Core Insights - Terreno Realty Corporation (TRNO) has announced the pre-leasing of 76,000 square feet in Countyline Corporate Park, Phase IV, Building 36, with the lease commencing in Q1 2027 and expiring in July 2037 [1] - An existing lease with an international logistics management company has been expanded by 29,000 square feet, bringing Building 36 to 100% leased status, indicating strong demand for industrial assets [2] - The Countyline Corporate Park Phase IV project spans 121 acres and will feature 2.2 million square feet of industrial distribution buildings, with an investment volume of approximately $511.5 million [3] Leasing Performance - As of September 30, 2025, TRNO's operating portfolio was 96.2% leased, with the same-store portfolio at 98.6% leased [4] - The leased rate for the improved land portfolio of 44 parcels was 93.1% as of the same date [4] - Cash rents on new and renewed leases during Q3 2025 increased by 17.2%, with a tenant retention ratio of 68.7% for the operating portfolio [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, despite macroeconomic uncertainties [6] - The company has experienced a 7.1% share price increase over the past three months, outperforming the industry average of 0.2% [7] Project Momentum - The completion of Building 36 aligns with TRNO's 2027 project timeline and enhances the momentum of Phase IV [8]