Terreno Realty was founded in 2007 and became publicly traded in 2010 under the ticker symbol TRNO on the NYSE. Headquartered in Bellevue, Washington, the company operates as an internally managed real estate investment trust (REIT) focused exclusively on industrial real estate. Its strategy centers on acquiring, owning, and operating functional industrial properties 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. Terreno targets infill locations with high barriers to entry and strong supply-demand fundamentals. Its portfolio includes warehouse/distribution centers, flex/light industrial and R&D spaces, transshipment facilities, and improved land parcels leased for industrial outdoor storage. The company avoids greenfield development and joint ventures, instead favoring value-add and stabilized acquisitions. Approximately 55% of its acquisitions have been value-add, often involving repositioning or redevelopment. Top markets by exposure include Northern New Jersey/New York City , San Francisco, and Miami. The company’s tenant base is diverse, though notable contributors include Amazon and the U.S. Postal Service.