Terreno announced that it has completed the development and stabilization of Countyline Corporate Park Phase IV Building 39 that is 100% leased to one tenant. 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.
The New York-based investment giant sold the 115,741-square-foot industrial building at 13801 Northwest 112th Avenue to Boxer US, a Miami-based entity incorporated in May. The deal breaks down to $374 per square foot.
Terreno Realty Corp. intends to further expand at Countyline Corporate Park, a 620-acre master-planned industrial campus developed by Florida East Coast Industries in Hialeah. According to a Securities and Exchange Commission Filing from February 9, Terreno plans to pay $173.6 million for a 121-acre site within the Hialeah industrial park where a 2.2 million-square-foot campus is envisioned.
Ares Management made a $62 million double play in South Florida’s industrial market, picking up a pair of Hialeah warehouses under construction. An affiliate of the Los Angeles-based global alternative investment manager paid $37 million for a 9.6-acre site at 410 West 104th Street, and $25 million for an adjacent 10.2-acre parcel, according to records.