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Terreno Realty Corporation Announces Quarterly Operating, Investment and Capital Markets Activity

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  • Terreno Realty Corporation reported 97.6% quarter-end occupancy for Q2 2026, compared to 96.3% in the prior quarter & 97.7% in the prior year.
  • Same-store occupancy reached 97.8% at quarter-end, up from 97.6% in the prior quarter & 97.7% in the prior year.
  • Cash rents on new & renewed leases increased 27.7% in Q2 2026 & 25.3% year-to-date.
  • The company acquired $172.3 million of properties in Q2 2026, bringing year-to-date acquisitions to $274.1 million.
  • $274.1 million in acquisitions were under contract, access agreements, or letters of intent, with $89.5 million specifically under contract at quarter-end.
  • Dispositions totaled $31.1 million in Q2 2026, with $86.2 million year-to-date & $23.8 million under contract.
  • Terreno completed development & stabilization of one property for $55.3 million in Q2 2026, totaling $98.7 million for two properties year-to-date.
  • The company issued 1,992,940 common shares at $66.46 per share under its ATM program for $132.4 million in Q2 2026, with $267.4 million raised year-to-date.
  • Moody's Ratings assigned Terreno Realty LLC a first-time Baa1 issuer rating with a stable outlook.
  • The operating portfolio consisted of 316 buildings & 46 land parcels leased to 697 customers as of June 30, 2026.
  • Key lease activities included renewals with the Supreme Court of the United States, educational service providers, & logistics operators across multiple markets.
  • Four industrial properties totaling 518,000 square feet were acquired in Q2 2026, including assets in San Francisco, Alexandria, Landover, & Hialeah Gardens.
  • One property in Torrance, California was sold for $31.1 million, generating a 10.3% unleveraged internal rate of return.
  • Countyline Corporate Park Phase IV Building 34 was stabilized & is 100% leased with an estimated stabilized cap rate of 5.7%.
  • No debt borrowings were outstanding under the $600 million revolving credit facility as of June 30, 2026.
  • $50 million of debt maturities were funded using cash on hand on July 7, 2026.