This is a paid press release. Contact the press release distributor directly with any inquiries.

BELLEVUE, Wash., August 10, 2026--(BUSINESS WIRE)--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 Torrance, California on August 7, 2026 for a purchase price of approximately $14.7 million.

The property consists of one industrial distribution building containing approximately 36,000 square feet on 1.7 acres. The property is at 20701 Manhattan Place, west of I-405, and provides six dock-high and two grade-level loading positions and parking for 87 cars. The building is 100% leased to one tenant through November 30, 2026. Terreno Realty Corporation has executed a lease for 100% of the building with a builder of floating sensors for autonomous maritime drones that will commence December 1, 2026 and expire February 2030. The estimated stabilized cap rate is 6.0%.

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.

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.

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'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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260730086889/en/

Contacts

Jaime Cannon415-655-4580

Artistic risk-takers, innovators and art lovers from around the world will gather in Torrance, California August 7-9, 2026, for Tryst, an alternative to the established commercial art scene. The international fair and conference, now in its fourth year, invites experimentation, provides a support system for artist-run spaces and collectives and offers opportunities to purchase original artworks.

Organized by the Torrance Art Museum in partnership with the City of Torrance, the free event will include performances and discussions about partnerships and programs for artists. Dozens of participants from California will join those from across the U.S. and international locations, including Vienna; São Paulo; Bogota, Columbia; Berlin and Athens, Greece. Tryst is the largest international art fair for artist-run spaces in the world.

“Tryst is both an art fair and an international conference addressing the needs and future of global exchange for artist-run spaces, collectives and organizations,” explained Max Presneill, director of the Torrance Art Museum. “Tryst lives up to its name as it brings together art lovers and artists for a brief encounter among a flurry of activities. We encourage everyone to network, exchange ideas, make new friends and plan for a collaborative future together.”

Tryst is dedicated to introducing international artists to new Los Angeles audiences and increasing interactions between artist-run spaces and the general public. To support artist-run spaces and experimental projects, Tryst is free for those looking to buy art and free for the artists, who also keep 100 percent of any sales they make. Visitors can expect to find painting, sculpture, photography, video, installation and more in an informal and enthusiastic environment.

Those eager to add original art to their lives will find a range of prices. Prices range from $100 to over $10,000.

Tryst 2026 will take place at Del Amo Crossing, 21535 Hawthorne Blvd., in Torrance, California, within the greater Los Angeles area. The event will be open to the public on Saturday, Aug. 8 and Sunday, Aug. 9 from noon to 6 p.m.

Running concurrently in the same space, Nomad provides individual artists based in Southern California an opportunity to present their art. Nomad will feature more than 150 artists.

More information on Tryst is available at https://www.torranceartmuseum.com/tryst-2026.

Torrance Art Museum, located at 3320 Civic Center Drive in Torrance, California, is the premier visual art space to view contemporary art in the South Bay. The Museum encourages all people to develop and increase their understanding and appreciation for modern and contemporary artwork via a variety of exhibitions offered in its two gallery spaces, as well as educational programs, artist talks, lectures and symposia. Two galleries and a video darkroom exhibition space form the artistic core of the nearly 10,000-square-foot museum.

The museum is a program of the City of Torrance Cultural Services Division of the Community Services Department. Admission is free. Learn more at torranceartmuseum.com

Kimberley Hoidal

Communications Manager

CBRE facilitated the $21 million sale of Tournament Patio Apartments, a 60-unit multifamily community located at 4111 West 239th Street in Torrance, California. CBRE's Derrek Ostrzyzek, Anna Kampling, Rachel Parsons, Kenji Thomas and Mike Murphy represented the seller, JS Bower Foundation, in the transaction. The buyer was Good Capital Group.

"Tournament Patio Apartments presented a rare opportunity to acquire a well-located multifamily asset in one of Southern California's most supply-constrained coastal submarkets," said Ostrzyzek, executive vice president at CBRE. "The property's location in the heart of Torrance, proximity to major employment centers and significant value-add potential generated strong investor interest throughout the marketing process."

Tournament Patio Apartments is a two-story garden-style multifamily property with 60 units on 1.76 acres in the South Bay submarket of Los Angeles County. Built in 1963, the property offers an average unit size of 1,023 square feet.

The community is in Torrance's premier South Bay multifamily market, benefiting from proximity to major employers, including aerospace, defense, healthcare, and technology companies, as well as the region's coastal amenities and transportation infrastructure. The property features a mix of studio, two-bedroom, and three-bedroom units and offers amenities such as a pool, courtyard and outdoor gathering areas.

According to CBRE Research, the Los Angeles multifamily market entered 2026 with occupancy remaining strong at 95.3% in the first quarter, reflecting continued resilience in renter demand. CBRE's Greater Los Angeles market outlook also notes that multifamily fundamentals remain supported by supply constraints in many infill coastal submarkets. At the same time, renter demand remains underpinned by high barriers to homeownership and the region's diverse employment base.

About CBRE Group, Inc. CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm and a premier provider of critical infrastructure services. The company has more than 155,000 employees serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience, critical infrastructure); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development). Please visit our website at www.cbre.com.