Michael Coke on sustainability
From Quickfire questions: Tom Walker meets Terreno Realty Corporation's CEO · · Schroders
“The biggest challenge is actually getting the marketplace to understand what we do. We think repurposing urban infill buildings, minimizing the distance trucks have to travel to serve their customers, is highly environmentally friendly.”
On , Michael Coke, Co-Founder, President & Director at TERRENO REALTY CORP, spoke about sustainability during Quickfire questions: Tom Walker meets Terreno Realty Corporation's CEO on Schroders.
About Michael Coke
In a September 2024 interview, Michael Coke, co-founder, president, and director of Terreno Realty Corporation, discussed the company's investment strategy and recent milestones. Coke stated that Terreno focuses on industrial real estate in six urban infill markets on the U.S. coasts, aiming to own the "densest, closest to people assets." He described the company's "jewel in the crown" as a focus on growing per-share results rather than being the largest operator. Coke noted that Terreno has made an acquisition every three weeks for 13 years, with an average deal size of $12 million, building a $6 billion portfolio. He said the company has reached "critical mass" and is "ready for prime time" to demonstrate its track record. Coke also addressed sustainability challenges, saying the biggest hurdle is "getting the marketplace to understand what we do." He contrasted Terreno's approach of repurposing urban infill buildings to minimize truck travel distances with what he described as the market's focus on superficial environmental measures, such as installing bike racks at buildings in remote locations. He emphasized that Terreno is focused on "meaningful sustainable improvements to the environment through repurposing facilities."