CBRE Facilitates $195.6 Million Sale of 495K-SF Logistics Park in Doral, Florida

CBRE has facilitated the sale of Doral Air Logistics Center, a three-building logistics park spanning 495,078 sq. ft. in Doral, Florida. Terreno Realty, an investor/operator based in Bellevue, Washington, purchased the property for $195.6 million.

CBRE National Partners Vice Chairmen Jose Lobón, Frank Fallon, Trey Barry, and Vice President Royce Rose represented the seller. The team was assisted by Devin White with CBRE Industrial Leasing and Gabriel Braun and Daniel Sarmiento, Financial Analysts with CBRE National Partners.

Built in 2022, 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. The buildings feature modern specifications including 4.8% office finish, 36’ clear span heights, 219’ building depths, 120’ single to 180’ shared truck courts, 116 dock doors, and EV charging stations. At the time of sale, the park was 77% leased by six tenants.

“Opportunities to invest in logistics facilities of this quality and location only come about every decade or so,” said Lobón, a Vice Chairman with CBRE.

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.