Terreno pays $12.1 million for 138,000-square-foot Miami portfolio

Real estate investment trust Terreno has paid $12.1 million for a 138,000-square-foot, two-property industrial portfolio in Miami, according to Nasdaq. The trust took over a $6.2 million mortgage as part of the transaction. The properties are located in the traditionally-strong Airport West submarket of Miami, and are leased to one tenant. Terreno signed Freight Solutions to one of South Florida’s largest lease deals earlier this year, a 190,707-square-foot transaction at Terreno Miami Lakes Distribution Center. [Nasdaq]