Terreno Realty Corporation acquired an industrial property located in Doral on January 23 for a purchase price of approximately $9.9 million.
The property consists of one cross-dock industrial distribution building containing approximately 107,000 square feet on 5.0 acres in Miami’s Airport West market. The property is at 10100 NW 25th Street, provides 25 dock-high and six grade-level loading positions and is 100% leased to one tenant. The estimated stabilized cap rate of the property is 6.4%.
Terreno is no stranger to Doral. The publicly-traded San Francisco-based company acquired a six-building portfolio in Doral in May 2013 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.