Terreno Realty Completes $55M Industrial Building in Hialeah

Event summary

  • Terreno Realty completed a 220,000 sq. ft. industrial building in Hialeah, FL, fully leased to three tenants.
  • The project cost $55.3M with an estimated stabilized cap rate of 5.7%.
  • Building 34 is part of Countyline Corporate Park Phase IV, a 121-acre project targeting 2.2M sq. ft. of LEED-certified space by 2027.
  • Phase III and IV together will comprise 17 buildings totaling 3.5M sq. ft. in Miami's industrial market.

The big picture

Terreno Realty continues its focus on high-clearance industrial properties in coastal markets, with this Hialeah completion reinforcing its position in South Florida. The project aligns with broader trends of logistics real estate development near major transportation hubs, though cap rate compression remains a key watchpoint amid rising interest rates.

What we're watching

Cap Rate Stability
Whether the 5.7% stabilized cap rate holds as market conditions evolve.
Leasing Velocity
The pace at which remaining Phase IV buildings achieve full occupancy.
Industrial Demand
How sustained demand in Miami's industrial sector supports Terreno's expansion strategy.