The Real Deal Miami

In Florida expansion push, Calif. REIT acquires former Elizabeth Arden HQ 

December 21, 2010 04:13PM

A San Francisco REIT, Terreno, has picked up two Miami-Dade County warehouses in separate deals totaling $17 million as it attempts to expand its reach into the South Florida market. The first of the buildings, the 302,000-square-foot warehouse at 215 S.E. 10th Avenue in Hialeh, is home to Lagasse Paper and includes 25,000 square feet of office space, 200 parking spaces and 10.5 acres of property. The seller, TA Associates, got $9 million. The second deal was for a 165,000-square-foot warehouse in Miami Lakes, the former Elizabeth Arden headquarters site owned by Miami LK FP. The property, on 14100 NW 60th Avenue, now houses Furniture Power and includes 40,000 square feet of office space, 600 parking spaces and 13.2 acres. It went for $7.8 million. [SFBJ]