Terreno Realty Pre-Leases 220K SF in Hialeah Industrial Park

Event summary

  • Terreno Realty pre-leased 220,000 SF in Hialeah, FL to a national tire distributor for occupancy starting Q4 2026.
  • Building 35 is the final of ten LEED-certified industrial buildings in Countyline Corporate Park Phase IV, with total investment of $51.3M.
  • The lease expires July 2032 at an estimated stabilized cap rate of 6.0%.
  • Countyline Corporate Park Phase III and IV will comprise 17 buildings and 3.5M SF upon completion in 2027.

The big picture

This pre-lease continues Terreno's focus on high-barrier coastal industrial markets, particularly Miami's logistics hub. The $508.5M Phase IV investment represents significant capital allocation to a single submarket, highlighting the company's confidence in South Florida's industrial demand. The LEED certification requirement suggests tenants are prioritizing sustainability features even in speculative developments.

What we're watching

Lease Velocity
How quickly Terreno fills remaining space in Countyline Corporate Park Phase IV...
Cap Rate Stability
Whether the 6.0% stabilized cap rate holds as market conditions evolve...
Sustainability Premiums
The pricing impact of LEED certification on future leases in this development...