Oct
29
Terreno Picks Up Miami Industrial Facility
ByThe fully leased distribution facility sits on a 3.3-acre site and provides dock-high and grade-level loading positions, as well as parking for 49 cars.
Terreno Realty Corp. completed the acquisition of an industrial property totaling approximately 38,000 square feet in Miami’s Airport West submarket. Floral Holdings LLC, an entity affiliated with a New Jersey-based floral distribution and logistics company, sold the asset in a $6.8 million deal, public records show.
STABILIZED ASSET
Located at 1480 NW 94th Ave. in Doral, Fla., on a 3.3-acre site, the industrial distribution facility was completed in 1989 and is 100 percent occupied by one tenant. The property features 10 dock-high and one grade-level loading positions and provides 49 parking spaces. The estimated stabilized cap rate of the property is 5.4 percent…
