11800 NW 101 Road - Medley, FL

Date: April 2013
Address: 11800 NW 101 Road
City: Medley
Sq. Ft: 53,000
Price: $6,000,000

Price Per Sq. Ft: $113
Year Built: 2013
Buyer: Terreno Realty Corp
Seller: Vf 101 Road LLC

Transaction Details: Terreno Realty Corp purchases another Medley warehouse. The warehouse is located at 11800 NW 101st Road, and sits on approximately 2.3 acres.  Construction of the warehouse was completed this year, 2013. It has 20 dock high doors, 2 ramps, 24′ to 28′ ceiling height, and an ESFR sprinkler system.

The purchase price was $6,000,000, with an estimated cap rate of 7%.   They purchased the warehouse with a South American logistics company, in place, as the tenant.  The tenant will occupy the building in August 2013.

This is Terreno’s second warehouse purchase, in Medley, this year.

The Medley warehouse is adjacent to Flagler Station, which is owned by AEW Capital Management.