Terreno Realty Corporation Announces Development Completion in Hialeah, FL
Terreno Realty (NYSE:TRNO) has completed the development and stabilization of Building 31 in Countyline Corporate Park Phase IV, Hialeah, Florida. The 162,000-square-foot industrial distribution building is 100% leased to one tenant and features a 36-foot clear height, 53 dock-high and two grade-level loading positions, with parking for 140 cars. The total investment is $42.1 million with an estimated stabilized cap rate of 6.0%.
The broader Countyline Phase IV project spans 121 acres and will include ten LEED-certified buildings totaling 2.2 million square feet, with completion expected in 2027. The total investment for Phase IV is projected at $511.5 million.
Terreno Realty (NYSE:TRNO) ha completato lo sviluppo e la stabilizzazione dell'Edificio 31 nel Countyline Corporate Park Fase IV, a Hialeah, Florida. L'edificio industriale di distribuzione di 162.000 piedi quadrati è completamente affittato a un unico inquilino e presenta un'altezza libera di 36 piedi, 53 posizioni di carico a dock e due a livello strada, con parcheggio per 140 auto. L'investimento totale è di $42,1 milioni con un tasso di capitalizzazione stabilizzato stimato del 6,0%.
Il più ampio progetto Countyline Fase IV si estende su 121 acri e includerà dieci edifici certificati LEED per un totale di 2,2 milioni di piedi quadrati, con completamento previsto per il 2027. L'investimento totale per la Fase IV è stimato a $511,5 milioni.
Terreno Realty (NYSE:TRNO) ha completado el desarrollo y la estabilización del Edificio 31 en el Countyline Corporate Park Fase IV, en Hialeah, Florida. El edificio industrial de distribución de 162,000 pies cuadrados está 100% alquilado a un solo inquilino y cuenta con una altura libre de 36 pies, 53 posiciones de carga en muelle y dos a nivel del suelo, con estacionamiento para 140 coches. La inversión total es de $42.1 millones con una tasa de capitalización estabilizada estimada del 6.0%.
El proyecto más amplio de Countyline Fase IV abarca 121 acres e incluirá diez edificios certificados LEED con un total de 2.2 millones de pies cuadrados, con finalización esperada para 2027. La inversión total para la Fase IV se proyecta en $511.5 millones.
Terreno Realty (NYSE:TRNO)는 플로리다 하이알레아의 카운티라인 코퍼레이트 파크 IV 단계에서 31번 건물의 개발 및 안정화를 완료했습니다. 162,000 평방피트의 산업 배급 건물은 한 명의 세입자에게 100% 임대되며, 36피트의 클리어 높이, 53개 도크 높이 적재 위치 및 두 개의 지면 적재 위치를 갖추고 있으며, 140대의 자동차를 위한 주차 공간이 있습니다. 총 투자액은 $42.1 백만으로, 추정된 안정화 자본화율은 6.0%입니다.
더 넓은 카운티라인 IV 단계 프로젝트는 121에이커에 걸쳐 있으며, 2.2백만 평방피트에 달하는 10개의 LEED 인증 건물이 포함될 예정이며, 2027년 완공이 예상됩니다. IV 단계의 총 투자액은 $511.5 백만으로 예상됩니다.
Terreno Realty (NYSE:TRNO) a achevé le développement et la stabilisation du Bâtiment 31 dans le Countyline Corporate Park Phase IV, à Hialeah, en Floride. Le bâtiment de distribution industrielle de 162 000 pieds carrés est entièrement loué à un seul locataire et dispose d'une hauteur libre de 36 pieds, de 53 postes de chargement sur quai et de deux postes de chargement de plain-pied, avec un stationnement pour 140 voitures. L'investissement total s'élève à 42,1 millions de dollars avec un taux de capitalisation stabilisé estimé à 6,0 %.
Le projet plus vaste de Countyline Phase IV s'étend sur 121 acres et comprendra dix bâtiments certifiés LEED pour un total de 2,2 millions de pieds carrés, avec une achèvement prévu pour 2027. L'investissement total pour la Phase IV est estimé à 511,5 millions de dollars.
Terreno Realty (NYSE:TRNO) hat die Entwicklung und Stabilisierung von Gebäude 31 im Countyline Corporate Park Phase IV in Hialeah, Florida, abgeschlossen. Das 162.000 Quadratfuß große Industriegebäude zur Verteilung ist zu 100 % an einen Mieter vermietet und verfügt über eine lichte Höhe von 36 Fuß, 53 Dock- und zwei ebenerdige Ladepositionen sowie Parkmöglichkeiten für 140 Fahrzeuge. Die Gesamtsumme der Investition beträgt $42,1 Millionen bei einer geschätzten stabilisierten Kapitalisierungsrate von 6,0%.
Das größere Countyline Phase IV Projekt erstreckt sich über 121 Acres und wird zehn gemäß LEED zertifizierte Gebäude mit insgesamt 2,2 Millionen Quadratfuß umfassen, deren Fertigstellung für 2027 vorgesehen ist. Die Gesamtsumme der Investition für Phase IV wird auf $511,5 Millionen geschätzt.
- 100% occupancy achieved for Building 31
- Expected 6.0% stabilized cap rate on $42.1M investment
- Part of larger development with 2.2M sq ft total space
- Strategic location near Florida's Turnpike and I-75
- LEED certification expected for all buildings
- None.
Insights
This development completion marks a significant milestone in Terreno's strategic expansion in Miami's industrial market. The
The broader Countyline Corporate Park Phase IV development, with a total investment of
The stabilized cap rate suggests solid risk-adjusted returns in the current market environment, particularly for a newly developed, Class A industrial asset in a top-tier coastal market. The project's scale and specifications align well with modern logistics requirements, positioning Terreno favorably in the competitive South Florida industrial market.
-Countyline Corporate Park Phase IV Building 31
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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