Terreno Realty Corp., an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, has purchased an industrial property in Hialeah, Fla., on Feb. 9 for approximately $73.2 million, net of free-rent credits.
The property consists of two recently developed rear-load 32 foot-clear industrial-distribution buildings of about 407,000 square feet on 19.8 acres. The property is at 4281-4341 West 108th St., adjacent to Terreno Realty Corporation’s five existing buildings on West 108th Street and near Florida’s Turnpike and the southern terminus of Interstate 75. The property provides 124 dock-high and four grade-level loading positions and parking for 359 cars. It is expected to obtain LEED certification.
The property is 100-percent preleased to two tenants with leases expected to commence in May and September 2022.
