Terreno Realty Corp. has acquired an industrial property in Hialeah, Fla., for a purchase price of approximately $48.1 million, net of free-rent credits.
The property consists of two recently developed rear-load 32-foot clear height industrial distribution buildings containing approximately 274,000 square feet on 15.9 acres. The property is at 4021–4071 W. 108th St., adjacent to Florida’s Turnpike and the southern terminus of Interstate 75, and provides 92 dock-high and four grade-level loading positions, as well as parking for 287 cars. The asset is expected to obtain LEED certification. The property is 100 percent pre-leased to five tenants.
