Terreno Realty Corporation Announces Development Completion in Hialeah, FL
Terreno Realty (NYSE:TRNO) has announced the completion and stabilization of Countyline Corporate Park Phase IV Building 39 in Hialeah, Florida, effective September 30, 2024. The 178,000 square foot industrial distribution building is 100% leased to one tenant. Located on 10.9 acres, it features a 36-foot clear height, 58 dock-high and two grade-level loading positions, and parking for 156 cars.
The building is expected to achieve LEED certification, with a total expected investment of $43.8 million and an estimated stabilized cap rate of 5.8%. It is part of the larger Countyline Corporate Park Phase IV project, which spans 121 acres and is entitled for 2.2 million square feet of industrial distribution buildings. The entire Phase IV development is expected to be completed in 2027, comprising ten LEED-certified buildings with a total expected investment of approximately $511.5 million.
Terreno Realty (NYSE:TRNO) ha annunciato il completamento e la stabilizzazione della Fase IV del Countyline Corporate Park, Edificio 39, a Hialeah, Florida, con effetto dal 30 settembre 2024. L'edificio industriale per la distribuzione, che misura 178.000 piedi quadrati, è completamente affittato a un unico inquilino. Situato su un'area di 10,9 acri, presenta un'altezza libera di 36 piedi, 58 posizioni di carico dock-high e due posizioni di carico a livello strada, con parcheggio per 156 auto.
L'edificio dovrebbe ottenere la certificazione LEED, con un investimento totale previsto di $43,8 milioni e un tasso di capitalizzazione stabilizzato stimato del 5,8%. Fa parte del più ampio progetto Countyline Corporate Park Fase IV, che si estende su 121 acri e ha il permesso per 2,2 milioni di piedi quadrati di edifici industriali per la distribuzione. L'intero sviluppo della Fase IV dovrebbe essere completato nel 2027, comprendendo dieci edifici certificati LEED con un investimento totale previsto di circa $511,5 milioni.
Terreno Realty (NYSE:TRNO) ha anunciado la finalización y estabilización de la Fase IV del Countyline Corporate Park, Edificio 39, en Hialeah, Florida, a partir del 30 de septiembre de 2024. El edificio de distribución industrial de 178,000 pies cuadrados está 100% alquilado a un solo inquilino. Ubicado en 10.9 acres, cuenta con una altura libre de 36 pies, 58 posiciones de carga a nivel de muelle y dos posiciones de carga a nivel de calle, además de estacionamiento para 156 coches.
Se espera que el edificio logre la certificación LEED, con una inversión total prevista de $43.8 millones y una tasa de capitalización estabilizada estimada del 5.8%. Es parte del proyecto más grande Countyline Corporate Park Fase IV, que abarca 121 acres y está autorizado para 2.2 millones de pies cuadrados de edificios de distribución industrial. Se espera que el desarrollo completo de la Fase IV se finalice en 2027, compuesto por diez edificios certificados LEED con una inversión total prevista de aproximadamente $511.5 millones.
Terreno Realty (NYSE:TRNO)는 2024년 9월 30일을 기점으로 플로리다 주 하이얼에 위치한 카운티라인 코퍼레이트 파크 4단계 건물 39의 완공 및 안정화를 발표했습니다. 178,000 제곱피트 규모의 이 산업 배급 건물은 단 하나의 임차인에게 100% 임대되었습니다. 10.9에이커에 위치하며, 36피트의 클리어 높이, 58개의 도크 하이 로딩 위치 및 2개의 그래이드 레벨 로딩 위치, 그리고 156대의 자동차를 위한 주차 공간을 갖추고 있습니다.
이 건물은 LEED 인증을 받을 것으로 예상되며, 총 예상 투자액은 $43.8 ล้าน이고, 추정 안정화 자본화율은 5.8%입니다. 이 건물은 121에이커에 걸쳐 있으며 220만 제곱피트의 산업 배급 건물에 대한 권한을 부여받은 더 큰 카운티라인 코퍼레이트 파크 4단계 프로젝트의 일부입니다. 전체 4단계 개발은 2027년까지 완료될 것으로 예상되며, 총 $511.5 million의 예상 투자로 LEED 인증을 받은 10개의 건물로 구성됩니다.
Terreno Realty (NYSE:TRNO) a annoncé l'achèvement et la stabilisation du bâtiment 39 de la phase IV du Countyline Corporate Park à Hialeah, Floride, à compter du 30 septembre 2024. Ce bâtiment de distribution industrielle de 178 000 pieds carrés est 100% loué à un seul locataire. Situé sur 10,9 acres, il présente une hauteur libre de 36 pieds, 58 postes de chargement de quai et deux postes de chargement au niveau du sol, ainsi qu'un stationnement pour 156 voitures.
Le bâtiment devrait obtenir la certification LEED, avec un investissement total prévu de 43,8 millions de dollars et un taux de capitalisation stabilisé estimé à 5,8%. Il fait partie du projet plus vaste de la phase IV du Countyline Corporate Park, qui s'étend sur 121 acres et est autorisé pour 2,2 millions de pieds carrés d'édifices de distribution industrielle. L'ensemble du développement de la phase IV devrait être achevé en 2027, comprenant dix bâtiments certifiés LEED avec un investissement total prévu d'environ 511,5 millions de dollars.
Terreno Realty (NYSE:TRNO) hat den Abschluss und die Stabilisierung des Countyline Corporate Park Phase IV, Gebäude 39 in Hialeah, Florida, bekannt gegeben, die am 30. September 2024 in Kraft tritt. Das 178.000 Quadratfuß große Industrie-Verteilungsgebäude ist 100% vermietet an einen einzelnen Mieter. Es befindet sich auf 10,9 Acres und bietet eine lichte Höhe von 36 Fuß, 58 dockhohe und zwei ebenerdige Ladepositionen sowie Parkmöglichkeiten für 156 Autos.
Das Gebäude wird voraussichtlich die LEED-Zertifizierung erreichen, mit einer insgesamt erwarteten Investition von 43,8 Millionen US-Dollar und einer geschätzten stabilisierten Kapitalisierungsrate von 5,8%. Es ist Teil des größeren Projekts Countyline Corporate Park Phase IV, das sich über 121 Acres erstreckt und die Genehmigung für 2,2 Millionen Quadratfuß industrieller Verteilungsgebäude hat. Die gesamte Entwicklung der Phase IV wird voraussichtlich 2027 abgeschlossen sein und umfasst zehn LEED-zertifizierte Gebäude mit einer insgesamt erwarteten Investition von etwa 511,5 Millionen US-Dollar.
- 100% occupancy of newly completed Building 39
- Expected LEED certification for the building
- Estimated stabilized cap rate of 5.8% for Building 39
- Part of a larger development project with 2.2 million square feet of industrial space
- None.
Insights
The completion and full leasing of Building 39 in Countyline Corporate Park Phase IV marks a significant milestone for Terreno Realty With an investment of
The broader Countyline Corporate Park project, totaling 2.2 million square feet across ten buildings with a
For investors, this news indicates TRNO's strong execution capabilities and potential for long-term value creation through development. The full leasing of Building 39 upon completion suggests robust demand for TRNO's properties, which bodes well for the company's future revenue streams and occupancy rates across its portfolio.
Terreno's completion of Building 39 in Hialeah, FL, is a strategic move that strengthens its position in the competitive Miami industrial market. The 178,000 square foot facility with modern specifications, including 36-foot clear height and ample loading positions, caters to the evolving needs of e-commerce and logistics tenants.
The location adjacent to Florida's Turnpike and I-75 is particularly noteworthy, offering excellent connectivity for distribution operations. This, combined with the LEED certification pursuit, aligns with current market demands for sustainable, well-located industrial spaces.
The broader Countyline Corporate Park project's scale - 3.5 million square feet across 17 buildings when combining Phases III and IV - represents a significant share of Miami's industrial market. This concentration allows TRNO to benefit from economies of scale and potentially command premium rents due to the park's quality and strategic location.
-Countyline Corporate Park Phase IV Building 39
Countyline Corporate Park Phase IV consists of a 121-acre project entitled for 2.2 million square feet of industrial distribution buildings in Miami’s Countyline Corporate Park (“Countyline”), immediately adjacent to Terreno Realty Corporation’s seven buildings within Countyline (Countyline Corporate Park Phase III). 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
Taken together, Terreno Realty Corporation’s Countyline Corporate Park Phase III and IV will contain 17 industrial distribution buildings and 3.5 million square feet.
Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally
Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal
Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. We caution investors that forward-looking statements are based on management’s beliefs and on assumptions made by, and information currently available to, management. When used, the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “result,” “should,” “will,” “seek,” “target,” “see,” “likely,” “position,” “opportunity,” “outlook,” “potential,” “enthusiastic,” “future” and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control, including risks related to our ability to meet our estimated forecasts related to stabilized cap rates and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2023 and our other public filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Accordingly, investors should use caution in relying on past forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends.
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Jaime Cannon
415-655-4580
Source: Terreno Realty Corporation
FAQ
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