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Terreno Realty Corporation Announces Leases in Los Angeles

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Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, announced today that it has executed two renewal leases totaling 306,000 square feet and a 2.5-acre lease of a recently acquired vacant improved land parcel.

In Commerce, California Terreno Realty Corporation renewed a lease of approximately 203,000 square feet expiring March 31, 2021 with a third-party logistics provider. The renewed lease will expire June 30, 2026.

In Redondo Beach, California Terreno Realty Corporation renewed a lease of approximately 103,000 square feet expiring December 31, 2020 with a leading aerospace manufacturer. The renewed lease will expire December 31, 2025.

In Rancho Dominguez, California Terreno Realty Corporation executed a full-property lease for a 2.5-acre improved land parcel which Terreno Realty Corporation acquired on December 2, 2020. The new lease with a regional provider of trucking services will commence December 31, 2020 and expire February 28, 2026.

Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C.

Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. We caution investors that forward-looking statements are based on management’s beliefs and on assumptions made by, and information currently available to, management. When used, the words "anticipate," "believe," "estimate," "expect," "intend," "may," "might," "plan," "project," "result," "should," "will," "seek," "target," "see," "likely," "position," "opportunity," "outlook," "potential," "enthusiastic," "future" and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors, that are beyond our control, including risks related to our ability to meet our estimated forecasts related to stabilized cap rates, the impact of the COVID-19 pandemic on our business, our tenants and the national and local economies, and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2019 and our other public filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Accordingly, investors should use caution in relying on past forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201215005098/en/

Contacts

W. Blake Baird
Michael A. Coke
415-655-4580