Hamid Moghadam Of Prologis Acquires Industrial Building From Phil Belling Of LBA Realty For $59M

Prologis acquired a 177,000-sf vacant commercial building at 5555 Auto Mall Parkway in Fremont for $59M from LBA Realty. This transaction highlights the asset's market value representing a 78% premium over the property's 2024 assessed value.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $59,000,000
• Address: 5555 Auto Mall Parkway
• Market: Fremont
• Square Footage: 177,000
• Price per Square Foot: $333
• Buyer: Hamid Moghadam - Prologis
• Seller: Phil Belling - LBA Realty

This deal marks an ongoing trend of Prologis' aggressive expansion into industrial and logistics assets across the Bay Area, reflecting significant activity in a challenging commercial real estate market.