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Terreno Realty Announces Leases in Seattle, Sees Healthy Demand
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Key Takeaways
Terreno Realty renewed a 63,000 sq. ft. lease in Seattle with a co-warehousing services provider.
The renewal lease begins July 1, 2026, and runs through June 2033.
TRNO continues to see solid demand from both new and existing tenants across its markets.
Terreno Realty (TRNO - Free Report) recently announced the execution of a 63,000 square foot renewal lease in Seattle, WA. The lessee of the agreement is a co-warehousing services provider.
The renewal lease will commence on July 1, 2026, and is set to expire in June 2033.
TRNO, which acquires, owns and operates industrial real estate in six major coastal U.S. markets, has been experiencing healthy demand for its properties from both new and existing tenants.
Apart from the above lease, in the last week of August 2025, this real estate investment trust (REIT) leased 100% Countyline Corporate Park Phase IV Building 32 in Hialeah, FL. The company also signed a 72,000 square feet lease with a distributor of Asian food products that will commence upon completion of tenant improvements expected in February 2026 and will expire in June 2036.
TRNO’s Q2 2025 Leasing Details
TRNO is experiencing healthy leasing activity, as evident in its performance in the second quarter of 2025. Its operating portfolio was 97.7% leased as of June 30, 2025. TRNO’s same-store portfolio of 14.1 million square feet was 98.5% leased as of June 30, 2025. For the company’s improved land portfolio of 47 parcels spanning 150.6 acres, the leased rate was 95.1% as of June 30, 2025.
Terreno Realty was able to lock in higher rents on new and renewed leases during the quarter. The cash rents on new and renewed leases commencing during the second quarter of 2025 climbed 22.6%. Moreover, the tenant retention ratio was 71.1% for the operating portfolio.
TRNO: In a Nutshell
With a solid operating platform, a healthy balance sheet position and strategic expansion moves, TRNO seems well-positioned to capitalize on long-term growth opportunities. However, amid macroeconomic uncertainty and geopolitical issues, customers remain focused on cost controls and delay their decision-making with respect to leasing. This is a concern for the company.
Over the past month, shares of this Zacks Rank #2 (Buy) company have gained 11.5% compared with the industry’s upside of 3.7%.
The Zacks Consensus Estimate for PLYM’s 2025 FFO per share has moved 2 cents northward to $1.88 over the past month.
The Zacks Consensus Estimate for VICI’s 2025 FFO per share has moved a cent upward to $2.39 over the past month.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
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Terreno Realty Announces Leases in Seattle, Sees Healthy Demand
Key Takeaways
Terreno Realty (TRNO - Free Report) recently announced the execution of a 63,000 square foot renewal lease in Seattle, WA. The lessee of the agreement is a co-warehousing services provider.
The renewal lease will commence on July 1, 2026, and is set to expire in June 2033.
TRNO, which acquires, owns and operates industrial real estate in six major coastal U.S. markets, has been experiencing healthy demand for its properties from both new and existing tenants.
Apart from the above lease, in the last week of August 2025, this real estate investment trust (REIT) leased 100% Countyline Corporate Park Phase IV Building 32 in Hialeah, FL. The company also signed a 72,000 square feet lease with a distributor of Asian food products that will commence upon completion of tenant improvements expected in February 2026 and will expire in June 2036.
TRNO’s Q2 2025 Leasing Details
TRNO is experiencing healthy leasing activity, as evident in its performance in the second quarter of 2025. Its operating portfolio was 97.7% leased as of June 30, 2025. TRNO’s same-store portfolio of 14.1 million square feet was 98.5% leased as of June 30, 2025. For the company’s improved land portfolio of 47 parcels spanning 150.6 acres, the leased rate was 95.1% as of June 30, 2025.
Terreno Realty was able to lock in higher rents on new and renewed leases during the quarter. The cash rents on new and renewed leases commencing during the second quarter of 2025 climbed 22.6%. Moreover, the tenant retention ratio was 71.1% for the operating portfolio.
TRNO: In a Nutshell
With a solid operating platform, a healthy balance sheet position and strategic expansion moves, TRNO seems well-positioned to capitalize on long-term growth opportunities. However, amid macroeconomic uncertainty and geopolitical issues, customers remain focused on cost controls and delay their decision-making with respect to leasing. This is a concern for the company.
Over the past month, shares of this Zacks Rank #2 (Buy) company have gained 11.5% compared with the industry’s upside of 3.7%.
Image Source: Zacks Investment Research
Other Stocks to Consider
Some other top-ranked stocks from the broader REIT sector are Plymouth Industrial REIT (PLYM - Free Report) and VICI Properties (VICI - Free Report) , each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for PLYM’s 2025 FFO per share has moved 2 cents northward to $1.88 over the past month.
The Zacks Consensus Estimate for VICI’s 2025 FFO per share has moved a cent upward to $2.39 over the past month.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.