ASB Real Estate Investments just paid $24.3 million for a warehouse in Hialeah that’s fully leased to the furniture manufacturer, Synergy Custom Fixtures.
Terreno Realty Corporation, a publicly-traded real estate investment trust based in San Francisco, sold the 302,000-square-foot warehouse at 215 Southeast 10th Avenue for about $81 per square foot.
Synergy Custom Fixtures signed a long-term lease at the warehouse in March 2015. The 10.5-acre property, developed in 1957, features 23,000 square feet of office space, 200 parking spaces and 22 dock doors.
The property is within about 300 acres that the city rezoned in 2016 to spur commercial and residential development. The rezoning centers around two transit locations: Hialeah Market Stationand Tri-Rail/Metrorail Transfer Station.
