Overview
Terreno Realty Corp. is a U.S. industrial real estate company that acquires, owns and operates industrial properties, with a focus on functional sites in infill locations. Its portfolio includes warehouse and distribution, flex, transshipment properties and improved land. The company’s strategy centers on serving industrial demand in six coastal U.S. markets: New York City/Northern New Jersey, Los Angeles, Miami, the San Francisco Bay Area, Seattle and Washington, D.C.[1][2]
As of June 30, 2026, Terreno reported 316 buildings totaling approximately 20.6 million square feet and 46 improved-land parcels totaling 147 acres. Revenue was $124.7 million for the second quarter of 2026 and $249.2 million for the six months ended June 30, 2026. Its 2025 annual filing reported 47 full-time employees. The company’s reported operating footprint is U.S.-based.[1][3][4][5][6] [1][2][3][4][5][6]
Products & services
Terreno’s industrial property offerings comprise warehouse and distribution facilities, flex properties (including light industrial and research and development space), transshipment facilities such as truck terminals, and improved land used for industrial outdoor storage. Its facilities provide features suited to their uses: warehouse/distribution buildings commonly have 18–36-foot clear heights, dock-high and/or grade-level doors, and truck courts; flex properties combine office space with warehouse or manufacturing areas; and transshipment properties typically have numerous dock-high doors and space for truck and trailer staging. Improved land can accommodate truck, trailer, or car parking and may be redeveloped.[7][8][9][10][11][12][13][14][15][16][17][18][19][20][21]
The company leases industrial space and land, rather than reporting a separate service business. Leases are typically triple-net or modified gross, and commonly run for three to ten years; 96.8% of leased space had fixed or CPI-based rent increases as described in its 2025 annual reporting.[22] In the Q2 2026 reporting, annualized base rent was approximately 80.1% warehouse/distribution, 4.1% flex, 6.3% transshipment, and 9.5% improved land.[1][23] [7][8][9][10][11][12][13][14][15][16][17][18][19][20][21][22][1][23]
Geographic presence
As of June 30, 2026, Terreno Realty’s operating portfolio was concentrated in six U.S. coastal markets: New York City/Northern New Jersey, Los Angeles, Miami, the San Francisco Bay Area, Seattle, and Washington, D.C. It reported 316 buildings totaling approximately 20.56 million rentable square feet across those markets.[24][1]
By market, the portfolio comprised 69 buildings and 3.58 million square feet in New York City/Northern New Jersey; 60 buildings and 2.53 million square feet in Los Angeles; 44 buildings and 5.14 million square feet in Miami; 58 buildings and 3.27 million square feet in the San Francisco Bay Area; 54 buildings and 3.56 million square feet in Seattle; and 31 buildings and 2.48 million square feet in Washington, D.C.[3] Annualized base rent was $98.6 million (25.6% of the total) in New York City/Northern New Jersey, $53.4 million (13.9%) in Los Angeles, $74.3 million (19.2%) in Miami, $61.5 million (15.9%) in the San Francisco Bay Area, $56.6 million (14.7%) in Seattle, and $41.2 million (10.7%) in Washington, D.C. These figures represent annualized base rent, not reported-period revenue.[3]
The company’s principal business address is 101 Montgomery Street, Suite 200, San Francisco, California 94104.[25] [24][1][3][25][25]
Business segments
Terreno Realty Corp reports one operating and reportable segment: investing in industrial real estate. It aggregates its properties because they have similar economic characteristics; it does not report separate geographic or property-type segments. Its six U.S. markets—New York City/Northern New Jersey, Los Angeles, Miami, the San Francisco Bay Area, Seattle, and Washington, D.C.—are locations, not reported segments.[26][27][24]
For additional portfolio detail, Terreno’s 2026 Q2 reporting gives annualized base rent by property category as of June 30, 2026: warehouse/distribution 80.1%, flex (including light industrial and R&D) 4.1%, transshipment 6.3%, and improved land 9.5%. These percentages describe property mix, not reportable segments.[1] [26][27][24][1]
Company history
Terreno Realty was founded in 2007 by W. Blake Baird and Michael A. Coke. It began operations on February 16, 2010, after completing its initial public offering and a concurrent private placement to executive management; the company elected REIT tax treatment for that year.[28][29][30]
The company expanded through acquisitions: at the end of 2014, it added nine industrial properties for approximately $134.5 million, and in 2017 it acquired 23 properties for approximately $292.7 million.[31][32][33][34] Acquisition-led growth continued in 2025, when Terreno acquired 12 industrial properties and a portfolio for approximately $683.5 million.[35] [30][33][34][35][28][29][31][32]
Sources
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