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Portfolio Sustainability Investors Team Contact Portfolio Sustainability Investors Team Contact Terreno acquires, owns and operates industrial real estate in six major coastal U.S. markets. Exclusively. Functional, flexible, infill real estate located at the intersection of growing demand and limited, or even shrinking, supply. PHILOSOPHY We acquire, own and operate functional, flexible properties in infill locations at discounts to replacement cost within our six markets. We operate with a conservative capital structure. We do not do greenfield ground up development or make raw land investments. We are aligned with our shareholders.257 Buildings15.8 Million Square Feet46 Improved Land Parcels563 Customers Investment Strategy We believe successful long-term industrial property investment has four key features: Pricing at a discount to the replacement cost of the property Building layouts that can be modified to accommodate single and multiple tenants Potential for enhanced return through renovating, re-tenanting or operational improvements Opportunity for conversion to higher and better uses over time, particularly in submarkets with shrinking supply We believe successful long-term industrial property investment generally has four key features: Pricing at a discount to the replacement cost of the property Building layouts that can be modified to accommodate single and multiple tenants Potential for enhanced return through renovating, re-tenanting or operational improvements Opportunity for conversion to higher and better uses over time, particularly in submarkets with shrinking supplyWe sell properties when we believe the prospective total return from a property is particularly low relative to its market value, or the market value is significantly greater than the property’s estimated replacement cost. Capital from such sales is recycled into properties that are expected to provide better prospective returns or is returned to shareholders. Operating Approach Terreno acquires, owns and operates properties that satisfy submarket demand. These properties may be warehouse/distribution, flex (including light industrial and R&D), transshipment (truck terminals) or improved land parcels, depending on the submarket. To create a margin of investment safety, we acquire both value-add and stabilized properties at discounts to replacement cost. Aligned Compensation We believe executives should be aligned closely with long-term stockholder value creation. Terreno’s executive management is invested meaningfully in common stock side-by-side with public investors and our executive compensation is designed to reward only superior total stockholder return. Market Focus Terreno owns infill industrial real estate in six major coastal U.S. markets. Six markets that consistently demonstrate the strong operating fundamentals of lower vacancy and higher rent growth: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, D.C. Conservative Leverage Financial flexibility is important to long-term performance and the ability to take advantage of investment opportunities. We target debt plus preferred stock levels no higher than 35% of enterprise value, a fixed-charge coverage ratio of more than 2.0x and a debt-to-adjusted EBITDA ratio below 6.0x. Our focus is on per share, rather than aggregate, results. Strong Governance We’re committed to strong corporate governance and transparency for shareholders. Terreno’s independent directors stand for election every year. We’ve opted out of anti-takeover provisions and stockholder rights plans and we won’t opt back in to those provisions without stockholder approval. Latest News May 8, 2024 Terreno Realty Terreno Realty Corporation Declares Quarterly Dividend and Files First Quarter 2024 Financial Statements Read More May 2, 2024 Terreno Realty Terreno Realty Corporation Acquires Portfolio in New York City, Northern New Jersey, San Francisco and Los Angeles for Approximately $365 Million Read More April 25, 2024 Terreno Realty Terreno Realty Corporation Announces Development Completion in Hialeah, FL Read More Superior Long-term Results 11.4% Average Cash SSNOI Growth Since IPO 12.9% Unleveraged IRR on 34 Sold Properties Since IPO 12.3% Dividend CAGR Since 2011 Initiation 11.5% TSR CAGR Since 2010 IPO Terms of Use // Privacy Policy // ©2023 Terreno Realty Corporation. All rights...