Terreno Realty Corporation (NYSE:TRNO, Financial), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, announced today that it has executed a lease for 41,000 square feet in Hialeah, Florida with an international logistics services provider. The ten-year lease is expected to commence in November 2023 upon completion of tenant improvements. Building 41 of Terreno Realty Corporation’s Countyline Corporate Park Phase IV, a 191,000 square foot, 32-foot clear height rear-load industrial distribution building, is now 100% pre-leased and is expected to complete construction in the third quarter of 2023 and achieve LEED certification. Total estimated investment is $41.4 million and the expected stabilized cap rate is 5.1%.
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