Terreno Realty reports Q3 operating activity

As of September 30, 2025, Terreno Realty (TRNO) Corporation owned 307 buildings aggregating approximately 20.2 million square feet and 44 improved land parcels consisting of approximately 146.4 acres leased to 676 customers: The operating portfolio was 96.2% leased at September 30, 2025 as compared to 97.7% at June 30, 2025 and 97.0% at September 30, 2024. Occupancy at September 30, 2025 included 381,000 square feet (approximately 190bps) of vacancy acquired as part of a multi-market portfolio; The same-store portfolio of approximately 14.1 million square feet was 98.6% leased at September 30, 2025 as compared to 98.5% at June 30, 2025 and 97.1% at September 30, 2024; The improved land portfolio of 44 parcels totaling approximately 146.4 acres was 93.6% leased at September 30, 2025 as compared to 95.1% at June 30, 2025 and 98.1% at September 30, 2024; Cash rents on new and renewed leases totaling approximately 0.6 million square feet and 8.0 acres of improved land commencing during the third quarter increased approximately 17.2% with a tenant retention ratio of 68.7% for the operating portfolio and 100.0% for the improved land portfolio. Cash rents on new and renewed leases totaling approximately 2.0 million square feet and 21.5 acres of improved land commencing during the nine months ended September 30, 2025 increased approximately 23.8% with a tenant retention ratio of 70.8% for the operating portfolio and 74.1% for the improved land portfolio.