
Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property located in Red Hook Brooklyn, New York on August 13,

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<b xmlns="http://www.w3.org/1999/xhtml">Terreno Realty Corporation</b> (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/TRNO">TRNO</a>), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property located in Red Hook Brooklyn, New York on August 13, 2026 for a purchase price of approximately $26.3 million.

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The property consists of one industrial distribution building containing approximately 28,000 square feet on 1.5 acres. The property is at 659 Court Street and provides two grade-level loading positions and parking for 70 cars. The property has riparian access, is 100% leased to a maritime goods and services provider and the estimated stabilized cap rate is 5.2%.

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Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer’s due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.

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

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Additional information about Terreno Realty Corporation is available on the company’s web site at <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.terreno.com&amp;esheet=54589278&amp;newsitemid=20260813087393&amp;lan=en-US&amp;anchor=www.terreno.com&amp;index=1&amp;md5=b3d9c15a253547123c5f8bd8fbe04652" shape="rect">www.terreno.com</a>.

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Forward-Looking Statements

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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, and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2025 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.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260813087393r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260813087393/en/" rel="nofollow">https://www.businesswire.com/news/home/20260813087393/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
Jaime Cannon
<br xmlns="http://www.w3.org/1999/xhtml"></br>415-655-4580

</p>

TRNO

Terreno Realty Corporation Acquires Property in Brooklyn, NY for $26.3 Million

Terreno expands NYC footprint with Red Hook acquisition at 5.2% stabilized cap rate

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property located in Red Hook Brooklyn, New York on August 13,</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Terreno Realty acquired a 28,000-square-foot industrial building in Red Hook, Brooklyn for about $26.3 million. The asset is 100% leased to a maritime goods and services provider, with an estimated stabilized cap rate of 5.2%, underscoring Terreno&#039;s ongoing expansion in high-demand urban industrial markets. The deal diversifies Terreno&#039;s NYC footprint and adds near-term cash-flow visibility.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Terreno buys Red Hook Brooklyn property for $26.3M.</li><li>28,000 sq ft on 1.5 acres; 100% leased to maritime tenant.</li><li>Estimated stabilized cap rate: 5.2%.</li><li>Expands Terreno&#039;s NYC/coastal industrial footprint.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Terreno Realty Corporation (TRNO)</strong>: Gains exposure to NYC/coastal industrial markets; potential uplift to cash flow and NAV.</li><li><strong>Maritime Goods &amp; Services Provider (PRIVATE)</strong>: Tenant; 100% occupancy supports stabilized NOI; unnamed private company.</li></ul>
  </section>

  <section data-block="category">
    <h3>M&amp;A</h3>
    <p>This is a corporate development via asset-level M&amp;A, expanding Terreno&#039;s industrial footprint in a high-demand urban market with visible stabilized cash flow.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>New Red Hook asset expands Terreno&#039;s NYC coastal footprint.</li><li>Stabilized cap rate of 5.2% aligns with Terreno&#039;s target range.</li><li>Tenant is 100% leased; near-term NOI visibility.</li><li>Deal size 26.3M; potential uplift vs. last-mile logistics demand.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Acquisition date: Aug 13, 2026.</li><li>Purchase price: $26.3 million.</li><li>Building size: ~28,000 sq ft on 1.5 acres.</li><li>Location: 659 Court Street, Red Hook, Brooklyn, NY.</li><li>Tenant: 100% leased to maritime goods/services provider.</li><li>Estimated stabilized cap rate: 5.2%.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>TRNO should see modest near-term cash flow boost and portfolio diversification from stabilization in 6–12 months.</p>
  </section>
</section>


<p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Terreno Realty Corporation</b> (NYSE:<a class="ticker" href="https://www.benzinga.com/quote/TRNO">TRNO</a>), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property located in Red Hook Brooklyn, New York on August 13, 2026 for a purchase price of approximately $26.3 million.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The property consists of one industrial distribution building containing approximately 28,000 square feet on 1.5 acres. The property is at 659 Court Street and provides two grade-level loading positions and parking for 70 cars. The property has riparian access, is 100% leased to a maritime goods and services provider and the estimated stabilized cap rate is 5.2%.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer’s due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle and Washington, D.C.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Additional information about Terreno Realty Corporation is available on the company’s web site at <a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.terreno.com&amp;esheet=54589278&amp;newsitemid=20260813087393&amp;lan=en-US&amp;anchor=www.terreno.com&amp;index=1&amp;md5=b3d9c15a253547123c5f8bd8fbe04652" shape="rect">www.terreno.com</a>.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Forward-Looking Statements

</p><p xmlns="http://www.w3.org/1999/xhtml">
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, and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2025 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.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260813087393r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260813087393/en/" rel="nofollow">https://www.businesswire.com/news/home/20260813087393/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
Jaime Cannon
<br xmlns="http://www.w3.org/1999/xhtml"></br>415-655-4580

</p>

Terreno Realty acquired a 28,000-square-foot industrial building in Red Hook, Brooklyn for about $26.3 million. The asset is 100% leased to a maritime goods and services provider, with an estimated stabilized cap rate of 5.2%, underscoring Terreno's ongoing expansion in high-demand urban industrial markets. The deal diversifies Terreno's NYC footprint and adds near-term cash-flow visibility.

News insight

Terreno Realty Corporation Acquires Property in Brooklyn, NY for $26.3 Million

AI summary

Sentiment rationale

Key facts

M&A