Terreno Realty announces lease in Hialeah, FL

Terreno Realty (TRNO) announced that it has pre-leased 50% of Countyline Corporate Park Phase IV Building 32 in Hialeah, Florida. The ten-year lease for 82,000 square feet, with an aircraft engine maintenance, repair and overhaul provider, will commence upon completion of building construction and tenant improvements expected to be in June 2025. Currently under construction, Building 32 of Terreno Realty Corporation’s Countyline Corporate Park is a 164,000 square foot 36-foot clear height rear-load industrial distribution building on 8.3 acres with 53 dock-high and two grade-level loading positions and parking for 148 cars. The building is expected to achieve LEED certification, the total expected investment is $41.9M and the estimated stabilized cap rate is 6.0%. Countyline Corporate Park Phase IV consists of a 121-acre project entitled for 2.2M square feet of industrial distribution buildings in Miami’s Countyline Corporate Park mmediately adjacent to Terreno Realty Corporation’s seven buildings within Countyline…