Terreno Realty Corp. said it plans to build a pair of warehouses in Miami-Dade County after buying a vacant site in the Gladeview area.
VF 73rd Street LLC, managed by Rene Vivo Jr. and Augusto J. Fonte in Hialeah, sold the 5.8-acre site at 3000 N.W. 73rd St. to Bellevue, Washington-based Terreno Realty Corp. for $5.8 million.
The property last traded for $3.8 million in 2019. It was previously owned by department store Macy’s.
Terreno said it plans to redevelop the property with two LEED-certified distribution warehouses totaling about 129,000 square feet. They would have 32-foot clear height and 104 parking spaces. It estimated the development cost at $20 million.