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Clarion Offloads Hialeah Amazon Fulfillment Center for $56.3M
Terreno Realty Corp. acquired a warehouse in Hialeah Gardens for $56.3 million. The S. Florida Business Journal reports that the 98,000-square-foot warehouse was leased to Amazon for one of its fulfillment centers. Clarion Partners and Cadence Development was the seller of the property at 10910 N. W. 144th. The team delivered the build-to-suit project in 2022. It cost $22 million to build. The cap rate is 5%.
Terreno Realty has had success leasing its warehouses in Hialeah over the past 12 months, including an 88,000-square-foot lease with a logistics company, a 60,617-square-foot lease with a freight forwarding company, and a 76,000-square-foot lease with a plantain chip company.
On its website, Terreno says it acquires, owns and operates industrial real estate in six major coastal U.S. markets. They do not do greenfield ground-up development or make raw land investments.
Clarion Partners has $72.6 billion in assets under management,
- ◦Sale/Acquisition
