Terreno Realty Corporation (NYSE:TRNO), an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets, acquired an industrial property located in Hialeah Gardens, Florida on June 17, 2026 for a purchase price of approximately $56.3 million.

The property consists of one industrial distribution building containing approximately 98,000 square feet on 16.8 acres. The property is at 10910 NW 144th Street, adjacent to the intersection of Florida's Turnpike and Okeechobee Road, and provides nine dock-high and six grade-level loading positions and parking for 596 cars. The building is 100% leased to a leading e-commerce firm. The estimated stabilized cap rate is 5.0%.

Estimated stabilized cap rates are calculated as annualized cash basis net operating income stabilized to market occupancy (generally 95%) divided by total acquisition cost. Total acquisition cost includes the initial purchase price, the effects of marking assumed debt to market, buyer's due diligence and closing costs, estimated near-term capital expenditures and leasing costs necessary to achieve stabilization.

Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle and Washington, D.C.