REIT focused on acquiring, owning, and operating industrial real estate in six major coastal U.S. markets.
Terreno Realty Corporation, along with its subsidiaries, specializes in the acquisition, ownership, and operation of industrial real estate properties strategically located in six major coastal U.S. markets. These markets include Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, D.C. The company focuses on properties that cater to the growing demand for industrial spaces in key metropolitan areas.
As of September 30, 2020, Terreno Realty Corporation owned a substantial portfolio comprising 219 buildings totaling approximately 13.1 million square feet. Additionally, the company held 22 improved land parcels spanning approximately 85.0 acres, along with one property undergoing redevelopment expected to encompass about 0.2 million square feet upon completion. These assets underline Terreno's commitment to strategic growth and development within its targeted markets.
Headquartered in Maryland, Terreno Realty Corporation operates as an internally managed corporation. The company has elected to operate as a real estate investment trust (REIT) under Sections 856 through 860 of the Internal Revenue Code of 1986. This REIT status provides tax advantages and underscores Terreno's focus on delivering consistent returns to its shareholders while adhering to rigorous financial and operational standards.
Terreno Realty Corporation's proactive approach to industrial real estate investment is bolstered by its robust management team and disciplined acquisition strategy. By maintaining a strong presence in high-demand coastal markets, the company is well-positioned to capitalize on the ongoing growth in e-commerce, logistics, and distribution sectors, ensuring sustained value creation for its stakeholders.