Florida’s commercial real estate market experienced a significant boost this month, with two high-profile transactions totaling over $207 million. Institutional investors finalized major acquisitions, including a strategic industrial asset in Hialeah Gardens and a premier waterfront multifamily complex in Miami-Dade County, signaling continued confidence in the region’s growth.
Key takeaways
- Terreno Realty acquired a $56.3 million industrial facility in Hialeah Gardens.
- RPM Living purchased the 380-unit Biscayne Shores multifamily complex for $151.4 million.
- The Miami-Dade transaction represents one of the largest multifamily trades in the region so far this year.
Industrial expansion in Hialeah Gardens
Terreno Realty, a NYSE-listed firm focused on industrial assets, has expanded its reach in the South Florida market with the purchase of a $56.3 million property. The facility, located at 10910 NW 144th Street, spans 98,000 square feet and sits on approximately 16.8 acres. As a fully leased distribution hub, the asset fits into Terreno’s broader strategy of maintaining high-quality logistics holdings across major coastal markets, including Los Angeles, Seattle, and the New York metropolitan area.
Miami-Dade multifamily market momentum
In the residential sector, RPM Living, in partnership with Cantor Fitzgerald Asset Management, completed a significant $151.4 million acquisition of Biscayne Shores. Developed by Integra Investments and completed in 2024, the complex features 380 units, including a mix of luxury apartments and townhomes fronting Biscayne Bay.
The transaction breaks down to approximately $398,000 per unit. Brokerage experts characterized the deal as a "once in a cycle" opportunity, noting that large-scale waterfront multifamily properties remain rare in the Miami market. The complex is currently fully leased, with monthly rents ranging from approximately $2,400 to over $7,000, underscoring the strong demand for premium rental inventory in the area. This sale follows a string of recent high-value multifamily trades in South Florida, highlighting a robust climate for residential investment across the state.
Recent Florida commercial real estate activity
- US industrial real estate investor Terreno buys $56m Florida asset | News, IPE Real Assets.
- Integra Sells Miami Rentals to RPM Living for $151 Million, The Real Deal.