Terreno Realty Corporation Sells Six-Building Industrial Portfolio In Doral For $82.3M

A six-building industrial portfolio, encompassing 302,000 square feet, was sold for $82.3 million in Doral, Florida. The properties occupy a combined area of 14.6 acres and are currently 91% leased to 21 tenants.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $82,300,000
• Sale Price per Square Foot: $273
• Seller: Blake Baird - Terreno Realty Corporation
• Market: Doral
• Brokers: Jose Lobon, Trey Barry, Frank Fallon, Royce Rose, George Fallon, Gabriel Braun & Daniel Sarmiento - CBRE

Terreno Realty Corporation achieved a significant return on investment by selling the portfolio, which was acquired in 2013 for $23.7 million, nearly tripling their initial purchase price. The transaction reflects a 14.7% unleveraged internal rate of return.