Prologis Acquires Industrial Property In Bloomington For $96.6M With Blackstone As Seller

The property involved in this transaction is a 311,363-square-foot FedEx distribution facility located at 3255 & 11600 Cactus Avenue in Bloomington, Southern California. The industrial property sits on approximately 36 acres and was sold for a price of $96,600,000, resulting in a price per square foot of $310. This sale highlights the strong demand for quality warehouses in the region.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $96,600,000
• Market: Bloomington
• Property Address: 3255 & 11600 Cactus Avenue
• Property Size: 311,363 square feet
• Price per Square Foot: $310

Prologis, represented by Hamid R. Moghadam and Dan Letter, acted as the buyer in this transaction. On the other hand, Blackstone, represented by Stephen A. Schwarzman and Nadeem Meghji, served as the seller. The sale of this FedEx distribution facility was part of a larger $3.1 billion deal between Prologis and Blackstone, underscoring the significant demand for warehouse spaces in the Southern California area.