Terreno Realty Corporation (NYSE: TRNO) has announced the signing of a pre-lease agreement for a 4.6-acre improved land parcel it owns in Elizabeth, New Jersey, with a truck sales and rental operator as the tenant.

The lease is scheduled to commence on November 1, 2026, immediately following the expiration of the current tenant's lease, and will run through January 2034. Elizabeth is strategically located within the core of the New York/Northern New Jersey industrial corridor, adjacent to the Port Newark and major highway networks, making it a key logistics hub on the U.S. East Coast. The execution of this pre-lease agreement underscores the ongoing market demand for industrial land, particularly improved parcels with prime transportation access.

About the Company

Terreno Realty Corporation is a real estate investment trust (REIT) focused on acquiring, owning, and operating industrial real estate in six major U.S. coastal markets: New York City/Northern New Jersey, Los Angeles, Miami, the San Francisco Bay Area, Seattle, and Washington, D.C.

Property Portfolio Focus

The company's investment portfolio includes industrial property types such as warehouse/distribution centers, flexible space (including light industrial and R&D facilities), transshipment facilities, and improved land parcels. It specifically targets functional properties situated in infill locations—areas that are highly surrounded by developed land and existing buildings. These properties are often suitable for multi-tenant occupancy and are designed to precisely serve customer needs within their respective submarkets.