Terreno Realty Completes 186 KSF Facility Near Miami

Terreno Realty Corp. has completed Phase IV of Countyline Corporate Park Building 40, a 186,000 square foot facility in Hialeah, Florida, a submarket of Miami. The owner expects its total investment to reach $43.8 million, with an estimated stabilized capitalization rate of 6.3 percent.

VS Real Estate is the developer of Countyline Corporate Park Phase IV, a 121-acre, $511.5 million project within the 620-acre master-planned industrial park developed by Florida East Coast Industries. The 10-building, 2.2 million square foot campus is scheduled for completion in 2027.

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Terreno acquired the land in 2023 for $173.6 million. Adjacent to the site is the third phase of the development, consisting of seven buildings. Together, the two projects will total approximately 3.5 million square feet.

Building 40, which is already fully leased to four tenants, features 36-foot clear heights, 60 dock-height loading doors and two drive-up doors, as well as 159 cars. Built to meet LEED standards, the facility spans 9.1 acres.

The distribution center is located at 3741 W. 112th Place, providing easy access to Interstate 75 and Highway 27. Miami International Airport, Downtown Miami and the Port of Miami are all located within a 25 mile radius.

Terreno’s growing industrial portfolio

Terreno Realty Corp. owns and operates industrial assets in six major U.S. coastal markets. The company’s current portfolio includes 258 facilities, totaling approximately 15.8 million square feet.

In April, Terreno acquired the Fleet industrial park, a four-building, 357,000-square-foot logistics campus in Alexandria, Virginia, for $84.3 million. The seller was the State Teachers Retirement System of Ohio.

Last October, the company paid $45.7 million for a two-building, 112,000-square-foot facility. infill industrial park in Redondo BeachCalifornia. The campus came online in 1968 and was previously owned by Link Logistics.