International Logistics Services Provider Brings Countyline Corporate Park’s Building 41 To 100% Pre-Leased

Terreno Realty Corporation has executed a lease for 41,000 square feet in Hialeah with international logistics services provider, Triton Logistics.

The ten-year lease is expected to commence in November 2023 upon completion of tenant improvements. Building 41 of Terreno Realty Corporation’s Countyline Corporate Park Phase IV, a 191,000 square foot, 32-foot clear height rear-load industrial distribution building, is now 100% pre-leased and is expected to complete construction in the third quarter of 2023 and achieve LEED certification. Total estimated investment is $41.4 million and the expected stabilized cap rate is 5.1%.

Building 38 of Terreno Realty Corporation’s Countyline Corporate Park Phase IV, a 506,000 square foot 36-foot clear height cross-dock industrial distribution building, is under construction and expected to be completed in the third quarter of 2024. Building 38 is 100% pre-leased and expected to achieve LEED certification. Total estimated investment is $88.8 million and the estimated stabilized cap rate is 5.0%.

During the second quarter of 2023 Terreno Realty Corporation commenced construction of buildings 39 and 40 of Terreno Realty Corporation’s Countyline Corporate Park Phase IV. The buildings, expected to achieve LEED certification and achieve stabilization in the fourth quarter of 2024, will be 36-foot clear height rear-load industrial distribution buildings containing in aggregate 364,000 square feet. Total estimated investment is $84.6 million and the estimated stabilized cap rate is 6.0%.

Countyline Corporate Park Phase IV is a 121-acre project entitled for 2.2 million square feet of industrial distribution buildings in Miami’s Countyline Corporate Park (“Countyline”), immediately adjacent to Terreno Realty Corporation’s seven fully-leased buildings within Countyline (Countyline Corporate Park Phase III). 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. Located just south of the Broward County line, the master-planned Countyline Corporate Park sits on 95 acres from Northwest 154th Street north to 170th Street and from Northwest 107th Avenue east to 97th Avenue and is one of the largest industrial parks in South Florida. At expected completion in 2025, Countyline Phase IV is expected to contain ten LEED-certified industrial distribution buildings totaling approximately 2.2 million square feet providing 660 dock-high and 22 grade-level loading positions and parking for 1,875 cars for a total expected investment of approximately $492.7 million.

Terreno Realty Corporation’s Countyline Corporate Park Phase III and IV will contain 17 industrial distribution buildings and 3.5 million square feet.