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Terreno Realty Buys Miami-Dade Property, Plans Warehouse Development

Terreno Realty Corp. said it plans to build a pair of warehouses in Miami-Dade County after buying a vacant site in the Gladeview area.

VF 73rd Street LLC, managed by Rene Vivo Jr. and Augusto J. Fonte in Hialeah, sold the 5.8-acre site at 3000 N.W. 73rd St. to Bellevue, Washington-based Terreno Realty Corp. for $5.8 million.

The property last traded for $3.8 million in 2019. It was previously owned by department store Macy’s.

Terreno said it plans to redevelop the property with two LEED-certified distribution warehouses totaling about 129,000 square feet. They would have 32-foot clear height and 104 parking spaces. It estimated the development cost at $20 million.

 

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