Terreno Realty Corporation (NYSE:TRNO) announced a lease of approximately 166,000 square feet at its industrial building in Miami Lakes, Florida.
The lease, to a Miami-based logistics company, includes an expansion option exercisable within 13 months for an additional approximately 24,000 square feet.
As of December 31, 2011 the facility, located at 14100 NW 60th Avenue, is expected to be approximately 94% leased.
Terreno Realty Corporation is currently completing a renovation of the former manufacturing facility including 12 new dock high loading positions, new roof, new interior and exterior lighting, renovated office entrance facade, renovated and reconfigured offices, painting and truck court resurfacing and reconfiguration.
The transaction comes just days after Terreno acquired an industrial property located in Miami Gardens, Florida for a purchase price of approximately $7.2 million.
Source: Miami Herald
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