Terreno Realty acquires portfolio in Doral, FL for $23.7M

theflyonthewall.com

Terreno Realty acquired a portfolio of six buildings containing approximately 307K square feet in Doral, Florida on May 22 for a purchase price of approximately $23.7M. The building addresses are:8901 NW 20th Street, 2011 NW 89th Place, 8940 NW 24th Terrace, 8933 NW 23rd Street, 1400 NW 88th Avenue, and 1401 NW 89th Court. The rear-load multi-tenant distribution buildings are within Miami-Dade County's Airport West submarket and are 70% leased to 15 tenants. The estimated stabilized cap rate of the portfolio is 6.7%.

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