Terreno Realty Corporation Acquires 121 Acres in Hialeah Industrial Park for $174M

Terreno Realty Corporation, a Bellevue, WA-based owner and operator of industrial real estate, has acquired a 121-acre industrial property located in Hialeah, FL for approximately $173.6 million.

The property consists of a project entitled for 2.2 million square feet of industrial distribution buildings in the Countyline Corporate Park, immediately adjacent to Terreno Realty Corporation’s seven fully leased buildings within Countyline Corporate Park.

The project, a landfill redevelopment adjacent to Florida’s Turnpike and the southern terminus of I-75, is 29.9% pre-leased with one 191,000 square foot rear-load industrial distribution building and one 506,000 square foot cross-dock industrial distribution building under construction.

At expected completion in 2025 the project, located at the intersection of NW 170th Street and NW 107th Avenue, is expected to contain ten LEED-certified industrial distribution buildings totaling approximately 2.2 million square feet providing 660 dock-high and 22 grade-level loading positions and parking for 1,875 cars for a total expected investment of approximately $491.4 million.