Terreno Realty Completes 220 KSF Industrial Asset
The property is 100 percent leased.
Terreno Realty Corp. has completed Countyline Corporate Park Phase IV Building 34 in Hialeah, Fla., a Miami submarket. Building 34 is a 220,000-square-foot industrial asset. The development represents a $55.3 million investment with an estimated stabilized cap rate of 5.7 percent.
Countyline Corporate Park Phase IV is a 121-acre, 2.2 million-square-foot industrial campus in Miami’s Countyline Corporate Park. Next to the site is the development’s third phase, which features seven other Terreno assets. Across Phases III and IV, the project includes 17 industrial buildings totaling 3.5 million square feet.
Building 34 sits on 13 acres and features a 36-foot clear height, 76 dock-high doors and parking for 188 cars. The property is already 100 percent leased to three tenants. International Cruise Logistics has taken 153,000 square feet at the facility, according to Yardi Matrix. The other tenants are a white-glove delivery service provider and a global manufacturer and distributor of automotive refinish systems.
Previously in May 2024, the developer delivered Building 40, an 186,000-square-foot asset. Terreno expects Phase IV to be finished in 2027. Building 35, another 220,000-square-foot asset in Phase IV, is still under construction. It will be completed in the fourth quarter of 2026. In March 2026, Terreno signed a national tire distributor to a lease at the property, making it 100 percent preleased.
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Countyline Corporate Park is a landfill development located near the intersection of NW 170th Street and NW 107th Avenue in Hialeah. It is within about 18 miles from Miami International Airport and 20 miles from PortMiami.
Coastal activity for Terreno
Miami’s industrial sector remains strong, with 684,322 square feet of net absorption recorded year-to-date, according to JLL’s first-quarter 2026 Miami report. The metro’s construction pipeline stands at 3 million square feet, its lowest level since the pandemic construction surge.
Terreno Realty Corp. is an active owner and operator in industrial real estate in six coastal markets, including New York City/Northern New Jersey; Los Angeles; Miami; San Francisco Bay Area; Seattle and Washington, D.C. It also acquires assets across these markets to continue to expand its portfolio.
Last September, the company acquired a three-property portfolio in Doral, Fla., and Kearny, N.J., for $194.3 million. In total, the portfolio includes 509,000 square feet. The transaction completed a larger multi-market portfolio of 1.2 million square feet.
Most recently, the company expanded in the New York/New Jersey industrial market with the purchase of College Point Logistics Center in Queens, N.Y., in February. Terreno acquired the 81,000-square-foot warehouse for $92 million from Wildflower Ltd.
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