Terreno Realty Corporation Snags $131M Doral Industrial Complex from Link Logistics and Blackstone

San Francisco-based Terreno Realty Corporation, led by Blake Baird, has acquired the recently completed Royal Palm Doral industrial complex for $130.7 million. The two-building complex, located at 6450-6550 Northwest 97th Avenue and completed in 2024, spans 345,940 square feet and was sold by New York-based Link Logistics and parent company Blackstone for approximately $378 per square foot. The deal marks the latest warehouse sell-off by the two companies.

The acquisition of Royal Palm Doral further solidifies Terreno's presence in the thriving Doral neighborhood. With its prime location and high-quality construction, the industrial complex is a valuable addition to Terreno's portfolio.

According to real estate database Vizzda, the development was financed with a $51 million loan from Wells Fargo.

"We are excited to add this premier industrial property to our portfolio," said Terreno president and CEO Blake Baird. "With its strategic location and top-notch design, it is a perfect fit for our investment strategy."

The sale of Royal Palm Doral is just the latest in a series of warehouse deals between Link Logistics and Blackstone. The two companies have been actively selling off their industrial holdings in Miami, with several notable transactions in recent months.

Originally reported by The Real Deal.

https://therealdeal.com/miami/2025/09/18/terreno-pays-131m-for-doral-industrial-complex/