Transwestern Secures Off-Market Buyer for Prime Warehouse Asset
July 11, 2022
MIAMI – Transwestern Real Estate Services’ (TRS) South Florida industrial team has facilitated the sale of a 6.72-acre industrial property with a 55,000-square-foot warehouse at 8050 NW 90th St. in Medley, Florida. Executive Managing Directors Ben Eisenberg and Walter Byrd, Managing Director Thomas Kresse and Vice President Carlos Gaviria represented the buyer, Terreno Realty Corporation (NYSE: TRNO), in the transaction. Terreno purchased the asset for $20 million, or $2.97 million per acre.
“This incredibly unique property presented a rare opportunity to acquire a warehouse on an oversized lot with an existing crane system and direct access to rail,” said Gaviria. “There are no other sites on the market in South Florida that offer a building of this size with so much additional land.”
Terreno has engaged Transwestern to market the site for lease. The fully-fenced property provides immediate access to Palmetto Expressway via Okeechobee Road and NW 74th St. Site and building features include an existing crane system, street-level loading, nine oversized doors and ceiling clear heights of 28 to 37 feet.
Transwestern’s South Florida Industrial team provides creative solutions that maximize real estate value through a sophisticated and proven methodology that helps meet and exceed financial objectives. With nearly 100 years of combined experience, the team uses deep market knowledge and industry expertise to uncover hidden opportunities and capitalize on shifting market dynamics.
About Terreno Realty Corporation
Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C. Additional information about Terreno Realty Corporation is available on the company’s website at www.terreno.com.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, investment management, and opportunistic endeavors for high-net-worth investors. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.