AG真人官方

鈥� Countyline Building 33 100% leased

鈥� Countyline Phase IV 56% complete and stabilized

BELLEVUE, Wash.--(BUSINESS WIRE)-- Terreno AG真人官方ty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, announced today that it has leased 100% of Countyline Corporate Park Phase IV Building 33 in Hialeah, Florida. A seven-year lease for 105,000 square feet, with a third-party logistics provider, commenced upon completion of building construction and tenant improvements in March 2025. In addition, Terreno AG真人官方ty Corporation has signed leases for 28,000 square feet with a business-to-business food purveyor and 24,000 square feet with a distributor of specialty elevator parts. Building 33 shell construction finished in January 2025 and stabilization is expected in the third quarter of 2025 upon completion of tenant improvements for the two recently-signed leases. Stabilization will bring Countyline Corporate Park Phase IV to 63% complete and stabilized. Building 33 of Terreno AG真人官方ty Corporation鈥檚 Countyline Corporate Park is a 158,000 square foot 36-foot clear height rear-load industrial distribution building on 9.0 acres with 53 dock-high and two grade-level loading positions and parking for 136 cars. The building is expected to achieve LEED certification, the total expected investment is $39.9 million and the estimated stabilized cap rate is 5.9%.

Countyline Corporate Park Phase IV consists of a 121-acre project entitled for 2.2 million square feet of industrial distribution buildings in Miami鈥檚 Countyline Corporate Park (鈥淐ountyline鈥�), immediately adjacent to Terreno AG真人官方ty Corporation鈥檚 seven buildings within Countyline (Countyline Corporate Park Phase III). Countyline is a landfill redevelopment adjacent to Florida鈥檚 Turnpike and the southern terminus of I-75 located at the intersection of NW 170th Street and NW 107th Avenue. At expected completion in 2027, Countyline Corporate Park Phase IV is expected to contain ten LEED-certified industrial distribution buildings totaling approximately 2.2 million square feet (of which five buildings totaling approximately 1.2 million square feet have already been completed and stabilized) providing 660 dock-high and 22 grade-level loading positions and parking for 1,875 cars for a total expected investment of approximately $511.5 million.

Taken together, Terreno AG真人官方ty Corporation鈥檚 Countyline Corporate Park Phase III and IV will contain 17 industrial distribution buildings and 3.5 million square feet.

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鈥檚 due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.

Terreno AG真人官方ty 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.

Additional information about Terreno AG真人官方ty Corporation is available on the company鈥檚 web site at .

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鈥檚 beliefs and on assumptions made by, and information currently available to, management. When used, the words 鈥渁nticipate,鈥� 鈥渂elieve,鈥� 鈥渆stimate,鈥� 鈥渆xpect,鈥� 鈥渋ntend,鈥� 鈥渕ay,鈥� 鈥渕ight,鈥� 鈥減lan,鈥� 鈥減roject,鈥� 鈥渞esult,鈥� 鈥渟hould,鈥� 鈥渨ill,鈥� 鈥渟eek,鈥� 鈥渢arget,鈥� 鈥渟ee,鈥� 鈥渓ikely,鈥� 鈥減osition,鈥� 鈥渙pportunity,鈥� 鈥渙utlook,鈥� 鈥減otential,鈥� 鈥渆nthusiastic,鈥� 鈥渇uture鈥� 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, 2024 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.

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Jaime Cannon

415-655-4580

Source: Terreno AG真人官方ty Corporation