Terreno Realty Corporation · NYSE:TRNO
Terreno Realty — Q1 2014 Earnings Presentation
15 slides from Terreno Realty's earnings presentation, May 12, 2014
Slide 1: Terreno Realty Corporation Q1 2014 Update
Terreno Realty Corporation Q1 2014 Update May 12, 2014
Slide 2: Forward Looking Statements
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Forward Looking Statements This presentation contains forward-looking statements within the meaning of the federal securities laws. All statements other than statements of historical fact are forward-lo
Slide 3: Investment Strategy
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Investment Strategy Unique and Highly Selective Focus on Functional Assets Market Approach in Infill Locations Acquire, own and operate industrial real estate in six Broad product opportunity set(1)
Slide 4: Recent Highlights
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Recent Highlights 2014 Highlights Quarter end occupancy of 93.5% compared to 92.8%% at Q4 2013 and 93.3% at Q1 2013 Same store occupancy of 95.9% as compared to 96.3% at Q4 2013 and 92.8% at Q1 2013
Slide 5: Current Portfolio Overview
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Current Portfolio Overview Key Metrics(1) Current Portfolio by Geography (2) Square Feet 7.1 million Seattle 6.8% Number of Buildings 99 Northern New Jersey / New York City 35.1% San Francisco Bay Area
Slide 6: Selected Examples of Value Creation
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Selected Examples of Value Creation In addition to the acquisition and operation of core properties, Terreno has successfully stabilized 17 of 31 value- added investments to date. Since its IPO, appro
Slide 7: Value Creation – Ethel Rd
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Value Creation –Ethel Rd Location: Piscataway, NJ Size: Two buildings, 104,930 SF on approximately 7.7 acres Acquisition Price: $7.0 million, $66 PSF Occupancy: 76% occupied at acquisition; 100%
Slide 8: Value Creation – 101st Road
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Value Creation – 101st Road Location: Medley, FL Size: One building, 52,536 SF and approximately 2.3 acres of excess land Acquisition Price: $6.0 million, $114 psf Occupancy: Building vacant at
Slide 9: Market Leading Corporate Structure
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Market Leading Corporate Structure Management Alignment Corporate Governance CEO and President’s long-term incentive Majority independent directors with diverse compensation fully aligned with stock
Slide 10: Key Takeaways
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Key Takeaways Focused strategy – Six major coastal US markets exclusively – Flexible and functional assets in infill locations Increasing acquisition opportunities across our target markets at disco
Slide 11: Appendix
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Appendix 11
Slide 12: Appendix: Statements Of Operations
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Appendix: Statements Of Operations CONSOLIDATED STATEMENTS OF OPERATIONS For the Three Months Ended March 31, 2014 2013 REVENUES Rental revenues $ 12,071 $ 7,736 Tenant expense reimbursements 3,733 2,29
Slide 13: Appendix: Supplemental Components of NAV
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Appendix: Supplemental Components of NAV For the Three Months COMPONENTS OF NET OPERATING INCOME Ended March 31, 2014 Q1 2014 Acquisitions Purchase Estimated Total revenues $ 15,804 Price Stabilized Lea
Slide 14: Appendix: Net Income, FFO and Adjusted FFO
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Appendix: Net Income, FFO and Adjusted FFO For the Three Months Ended March 31, NET INCOME, FFO AND ADJUSTED FFO 2014 2013 Total revenues $ 15,804 $ 10,029 Property operating expenses (4,822) (2,843) De
Slide 15: Appendix: Same Store Results
SACRAMENTO2013\Investor Presentation\Terreno Realty Roadshow Presentation (July 10, 2013) v7.pptx Appendix: Same Store Results For the Three Months Ended March 31, SAME STORE GROWTH (1) 2014 2013 $ Change % Change Net income (loss) $ 1,785 $ 794 $ 991 124.8% Depreciation and amortization from contin