{"id":1004195148,"date":"2017-10-27T07:05:41","date_gmt":"2017-10-27T15:05:41","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004195148"},"modified":"2022-12-08T11:29:43","modified_gmt":"2022-12-08T19:29:43","slug":"terreno-picks-up-miami-industrial-facility","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/terreno-picks-up-miami-industrial-facility\/","title":{"rendered":"Terreno Picks Up Miami Industrial Facility"},"content":{"rendered":"<p>By Timea Papp<\/p>\n<div id=\"attachment_1004195149\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Capture3.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004195149\" data-attachment-id=\"1004195149\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/terreno-picks-up-miami-industrial-facility\/capture-130\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Capture3.png\" data-orig-size=\"844,633\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Aerial view of 1480 NW 94th Ave.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Aerial view of 1480 NW 94th Ave.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Capture3.png?w=844\" loading=\"lazy\" class=\"wp-image-1004195149 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Capture3.png\" alt=\"Aerial view of 1480 NW 94th Ave.\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Capture3.png 844w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Capture3.png?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Capture3.png?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004195149\" class=\"wp-caption-text\">Aerial view of 1480 NW 94th Ave.<\/p><\/div>\n<p>Terreno Realty Corp. completed the acquisition of an industrial property totaling approximately 38,000 square feet in Miami\u2019s Airport West submarket. Floral Holdings LLC, an entity affiliated with a New Jersey-based floral distribution and logistics company, sold the asset in a $6.8 million deal, public records show.<\/p>\n<h2>Stabilized asset<\/h2>\n<p>Located at 1480 NW 94<sup>th<\/sup> Ave. in Doral, Fla., on a 3.3-acre site, the industrial distribution facility was completed in 1989 and is 100 percent occupied by one tenant. The property features 10 dock-high and one grade-level loading positions and provides 49 parking spaces. The estimated stabilized cap rate of the property is 5.4 percent.<\/p>\n<p>Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy divided by total acquisition cost. According to public records, the asset last changed hands in 1999 for $2.4 million.<\/p>\n<p>Terreno acquires, owns and operates industrial assets in six major coastal U.S. markets: Los Angeles, Northern New Jersey\/New York City, San Francisco Bay Area, Seattle, Miami and Washington, D.C. Earlier this year, the company paid $6.3 million for a 64,575-square-foot industrial property located in <a href=\"https:\/\/www.commercialsearch.com\/news\/transwestern-brokers-6-3m-acquisition-of-miami-industrial-asset\/\">Miami\u2019s Airport East submarket<\/a>.<\/p>\n<p><em>Image via Google\u00a0Maps<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The fully leased distribution facility sits on a 3.3-acre site and provides dock-high and grade-level loading positions, as well as parking for 49 cars. <\/p>\n","protected":false},"author":240,"featured_media":1004195149,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,1492,21742],"tags":[33863],"class_list":["post-1004195148","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-miami","category-latest","tag-terreno-realty-corporation"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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