Terreno Realty announced that it acquired an industrial property in Hialeah Gardens, Florida, for approximately $56.3 million.
The acquisition closed on June 17, 2026, further expanding Terreno Realty’s industrial real estate presence in the Miami market.
The property is located at 10910 NW 144th Street, adjacent to the intersection of Florida’s Turnpike and Okeechobee Road. This location provides access to key regional transportation corridors that support distribution, logistics, and last-mile delivery activity across South Florida.
The site consists of one industrial distribution building totaling approximately 98,000 square feet on 16.8 acres. The property includes nine dock-high loading positions and six grade-level loading positions, offering flexibility for warehouse, logistics, and distribution operations.
The site also includes parking for 596 cars, a significant feature for users with large employee bases, fleet requirements, or high-throughput operational needs.
Terreno Realty said the building is fully leased to a leading e-commerce firm. The property’s occupancy provides immediate income generation for the company while adding another industrial asset in a supply-constrained coastal market.
The estimated stabilized cap rate for the acquisition is 5.0%. Terreno Realty calculates estimated stabilized cap rates based on annualized cash-basis net operating income stabilized to market occupancy, generally 95%, divided by total acquisition cost.
Total acquisition cost includes the initial purchase price, buyer due diligence and closing costs, estimated near-term capital expenditures, leasing costs needed to achieve stabilization, and the effects of marking assumed debt to market when applicable.
Terreno Realty acquires, owns, and operates industrial real estate in six major coastal U.S. markets. These markets include New York City/Northern New Jersey, Los Angeles, Miami, the San Francisco Bay Area, Seattle, and Washington, D.C.
The Hialeah Gardens acquisition aligns with Terreno Realty’s strategy of owning industrial assets in infill locations that serve major population centers, transportation networks, and high-demand logistics corridors.
