Terreno Realty has recently acquired the Doral Air Logistics Center property for a total of $195.6 million. The project, which was completed in 2022 by Foundry Commercial and GLP Capital Partners, consists of three buildings spanning over 495,078 square feet.
Prior to the construction of this business park, an old PepsiCo bottling facility occupied the site’s 23.7 acres and had to be removed to make way for the new warehouse buildings.
The seller was represented by CBRE’s Jose Lobón, Frank Fallon, Trey Barry and Vice President Royce Rose.
Located at NW 41st Street with individual building addresses at 7855 (171,259 sq.ft.),7755 (173716 sq.ft.),and7725(150103sq.ft.),the property is currently leased out to six tenants occupying approximately77%of its total space.
Conveniently situated in close proximity to Miami International Airport’s cargo terminals as well as being easily accessible from Palmetto Expressway intersection on NW36th St,the park offers quick access not only within Miami but also allows businesses reach up-to79%of South Florida population within just one hour drive time,making it an ideal location for commercial operations.The news about Terreno acquiring this massive business center was first reported on Connect CRE .
