Terreno Realty completes development in Florida

Terreno Realty (TRNO) announced that it has completed the development and stabilization of Countyline Corporate Park Phase IV Building 31 in Hialeah, Florida effective November 21. Building 31 is 100% leased to one tenant. Building 31 of Terreno Realty Corporation’s Countyline Corporate Park is a 162,000 square foot 36-foot clear height rear-load industrial distribution building on 10 acres with 53 dock-high and two grade-level loading positions and parking for 140 cars. The building is expected to achieve LEED certification, the total expected investment is $42.1M and the estimated stabilized cap rate is 6%.