Miami-Area Warehouse Trades for $56M
The building is fully leased to an e-commerce firm
By Jeff Ostrowski June 18, 2026 4:50 pm
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Terreno Realty on Thursday announced it has paid $56.3 million for an industrial property in Hialeah Gardens, Fla.
The 98,000-square-foot distribution building sits on 16.8 acres at 10910 Northwest 144th Street, adjacent to the intersection of Florida’s Turnpike and Okeechobee Road, Terreno Realty said in a statement. The property includes 36-foot ceilings, nine dock-high doors, six grade-level loading positions and parking for 596 cars.
The building is fully leased to an e-commerce firm, but the buyer did not immediately disclose the name of the tenant. The estimated capitalization rate is 5 percent.
The seller was Clarion Partners of New York, according to property records. It’s the first sale of the building, which was constructed in 2022.
As of the end of 2025, Terreno Realty owned 41 buildings in the Miami area totaling 4.7 million square feet, according to its most recent annual report. Those warehouses had an occupancy rate of 92.2 percent.
Terreno Realty is based in Bellevue, Wash. The company operates industrial real estate in six U.S. markets: New York City/Northern New Jersey, Los Angeles, Miami, the San Francisco Bay Area, Seattle and Greater Washington, D.C. It owns more than 300 properties in those markets.
Jeff Ostrowski can be reached at jostrowski@commercialobserver.com.
