Terreno Realty completes development in Hialeah, Florida

Terreno Realty (TRNO) completed the development and stabilization of Countyline Corporate Park Phase IV Building 34 in Hialeah, Florida. Building 34 is 100% leased to three tenants. Building 34 of Terreno Realty Corporation’s Countyline Corporate Park is a 220,000 square foot 36-foot clear height rear-load industrial distribution building on 13.0 acres with 76 dock-high and two grade-level loading positions and parking for 188 cars. The building is expected to achieve LEED certification, the total investment is $55.3M and the estimated stabilized cap rate is 5.7%. Countyline Corporate Park Phase IV consists of a 121-acre project entitled for 2.2M square feet of industrial distribution buildings in Miami’s Countyline Corporate Park, immediately adjacent to Terreno Realty Corporation’s seven buildings within Countyline. Countyline is a landfill redevelopment adjacent to Florida’s Turnpike and the southern terminus of I-75 located at the intersection of NW 170th Street and NW 107th Avenue. At expected completion in 2027, Countyline Phase IV 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 $508.5M. Taken together, Terreno Realty Corporation’s Countyline Corporate Park Phase III and IV will contain 17 industrial distribution buildings and 3.5M square feet.