Terreno Realty Corporation TRNO announced that it recently completed the development and stabilization of Countyline Corporate Park Phase IV Building 34 in Hialeah, FL, for a total investment of $55.3 million. The move highlights its effort to enhance its property quality to meet tenants’ growing demand.
The developed property, consisting of 36-foot clear height rear-load industrial distribution building, spans around 220,000 square feet on 13.0 acres of land. The property is equipped with 76 dock-high and two grade-level loading positions, along with a parking area for 188 cars. With the estimated stabilized cap rate of 5.7%, Building 34 is expected to achieve LEED certification. It is 100% leased to three tenants.
Countyline Corporate Park Phase IV consists of a 121-acre project entitled for 2.2 million square feet of industrial distribution buildings in Miami’s Countyline Corporate Park. Upon its anticipated 2027 completion, Countyline Phase IV will feature ten LEED-certified industrial distribution buildings encompassing about 2.2 million square feet. These will include 660 dock-high and 22 grade-level loading positions, plus parking for 1,875 cars, with a total expected investment of roughly $508.5 million.
Terreno’s developments are an integral part of its ongoing efforts to optimize its portfolio and enhance its financial performance. Last week, TRNO announced its operating, investment and capital markets activity for the first quarter of 2026. In the quarter, the company completed the redevelopment and stabilization of Countyline Corporate Park Phase IV Building 32 in Hialeah, FL. As of March 31, 2026, it had five properties under development or redevelopment that, upon completion, will consist of five buildings aggregating approximately 0.9 million square feet, which are approximately 71.5% pre-leased, with a total expected investment of approximately $323.8 million.
Moreover, the company remains focused on expanding its asset base in the six major coastal U.S. markets — Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, DC — as demand for industrial real estate space remains buoyant.
With a solid operating platform, a healthy balance sheet position and prudent capital management practices, TRNO seems well-positioned to capitalize on long-term growth opportunities.
Shares of the company gained 7% over the past three months compared with the industry’s rise of 3.2%. TRNO carries a Zacks Rank #4 (Sell) at present.
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