There are a lot of reasons to like Prologis (NYSE: PLD), the world's largest owner of distribution warehouses. Many of those same reasons apply to one of its much smaller competitors, Terreno Realty (NYSE: TRNO).

Both make their living on logistics, profiting from consistent, growing demand for warehouse space from business-to-business and business-to-consumer shippers. They're both real estate investment trusts (REITs) that have consistently grown their total return over the years.

Both these industrial REITs have also easily outpaced the S&P 500 over that time, as shown below, and have the business moats and momentum in place to earn them consideration now by long-term investors.

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Source Fool.com