Terreno Realty purchased the three-building Doral Air Logistics Center property for $195.6 million. Foundry Commercial and GLP Capital Partners delivered the 495,078-square-foot project in 2022. Before the park was built, an older PepsiCo bottling facility that once sat on the 23.7-acre site was removed to make way for the new warehouse buildings.
CBRE’s Jose Lobón, Frank Fallon, Trey Barry, and Vice President Royce Rose represented the seller.
The property comprises three buildings located at 7855 (171,259 sq. ft.), 7755 (173,716 sq. ft.), and 7725 (150,103 sq. ft.) NW 41st Street. At the time of sale, the park was 77% leased by six tenants.
Situated in the northwest corner of the NW 36th St and Palmetto Expressway intersection, the park provides quick access to Miami International Airport’s cargo terminals and the ability to reach 79% of the region’s population within a 60-minute drive.
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