Blake Baird Of Terreno Realty Corporation Acquires Industrial Property From Stephen A. Schwarzman For $130.7M

The property asset involved in this transaction is comprised of the Royal Palm Doral warehouses located at 6450 and 6550 Northwest 97th Avenue in Doral. The two industrial buildings, completed in 2024, cover a total area of 347,380 square feet and are situated on 18.4 acres of land. The transaction was executed for a price of $130,700,000, resulting in a price per square foot of $376.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $130,700,000
• Square Footage: 347,380 SF
• Address: 6450 & 6550 Northwest 97th Avenue
• Market: Doral
• Buyer: Blake Baird - Terreno Realty Corporation
• Seller: Stephen A. Schwarzman - Blackstone
• Available for Lease: 164,247 SF

In this transaction, Blake Baird represented Terreno Realty Corporation as the buyer, while Stephen A. Schwarzman represented Blackstone as the seller. The sale was conducted by Blackstone affiliate B9 NW 97th Avenue Owner LLC, highlighting the corporate structure involved in this deal.