Terreno Realty has sold an industrial property spanning 113,000 square feet west of Miami International Airport for US$21.3 million, according to a deed released this week. The transaction encompasses a 3.4-acre plot on which the property at 7600 Northwest 26th Street is located.
The buyer is an affiliate of Dallas-based Dalfen Industrial, an owner of several warehouses in South Florida. The previous sale price for this asset was US$12.1 million in 2012, reflecting a significant increase in value within 14 years.
Terreno, a publicly traded company headquartered in Bellevue, Washington, announced in a press release that the distribution building is 100 percent leased to an undisclosed tenant. AerSale, a provider of aircraft, engines, and landing gear, states on its website that it occupies the space. The warehouse was built in 1973, according to property records.
Terreno stated that the transaction generated an unleveraged Internal Rate of Return (IRR) of 11.1 percent. The company has historically been an active buyer and seller of industrial properties in Miami. For example, in 2025, Terreno acquired a distribution complex in Doral, Florida, for US$196 million.
Dalfen Industrial has also proven to be an active market participant. The company owns more than 200 industrial properties nationwide. This latest acquisition underscores the ongoing demand and investment interest in logistics and distribution space in the Miami metropolitan area.
- —Address: 7600 Northwest 26th Street, Miami-Dade County
- —Buyer: Dalfen Industrial (Affiliate)
- —Seller: Terreno Realty
- —Sale Price: US$21.3 million
