Terreno Realty Pre-Leases 220,000 Square Feet in Florida
Terreno Realty Corporation has pre-leased 220,000 square feet in Countyline Corporate Park Phase IV Building 35 in Hialeah, Florida to a national tire distributor commencing with building completion and tenant build-out, expected to be in the fourth quarter of 2026, and expiring July 2032. Building 35, the final of ten buildings developed by Terreno Realty Corporation in Countyline Corporate Park, is under construction and is expected to achieve LEED certification with a total expected investment of $51.3M. 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, immediately adjacent to Terreno Realty Corporation's seven buildings within Countyline. 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 Corporate Park Phase IV is expected to contain ten LEED-certified industrial distribution buildings totaling approximately 2.2M square feet providing 655 dock-high and 23 grade-level loading positions and parking for 1,875 cars for a total expected investment of approximately $508.5M. Taken together, Terreno Realty Corporation's Countyline Corporate Park Phase III and IV will contain 17 industrial distribution buildings and 3.5M square feet.
