Terreno Buys Six Buildings In Doral

Already an active industrial real estate investor in Miami-Dade County, Terreno Realty Corp. seized another opportunity to add to its local portfolio.
The publicly-traded San Francisco-based company acquired a six-building portfolio in Doral for $23.7 million, according to Miami-Dade County records. Terreno America’s Gateway LLC purchased buildings totaling about 307,000 square feet at 8901 NW 20th St., 8933 NW 23rd St., 1400 NW 88th Ave., 8940 NW 24th Terrace, 2011 NW 89th Place and 1401 NW 89th Court.
A company managed by Boston-based TA Associates Realty was the seller.
The transaction closed May 22 and was not recorded by Miami-Dade County on June 11. No financing was recorded.
Terreno buys and operates industrial properties in six major coastal U.S. markets, according to its website. Calls to company chairman and CEO W. Blake Baird were not returned by deadline.
A statement from Terreno said the “rear-load multi-tenant distribution buildings” in Doral are 70 percent leased to 15 tenants.
Terreno made two industrial purchases in Medley earlier this year. The company paid $6 million April 29 for a 53,000-square-foot building at 11800 NW 101st Road and $5.1 million on March 7 for a 50,000-square-foot warehouse at 12600 NW 107th Ave.
 
Source:  DBR