Terreno Realty Corporation Announces Lease in Newark, CA

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11/03/2025 - 09:15 AM

BELLEVUE, Wash.--(BUSINESS WIRE)-- 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 a lease for 226,000 square feet in Newark, California with an Original Design Manufacturer of cloud computing hardware. The lease commenced November 1, 2025 and will expire May 2036. To facilitate the new lease, Terreno Realty Corporation terminated effective October 31, 2025 the in-place lease that was to expire June 2030 and received a negotiated early termination payment from the prior tenant of approximately $13.5 million. In addition, Terreno Realty Corporation will record a net increase in revenue of approximately $4.4 million for the three months ended December 31, 2025 from the write-off of the below-market lease and straight-line rent related to the early termination of the prior lease.

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.

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

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