Prologis Acquires 188K SF Industrial Building In Medley For $50.9M From Blackstone

Prologis, a leading global logistics real estate company, has acquired a warehouse in Medley, Florida as part of its $3.1 billion acquisition of a nationwide industrial property portfolio from Blackstone. The warehouse, located at 10733-10763 Northwest 123rd Street, spans approximately 188,000 square feet and is situated on 8.8 acres of land. The property is part of a larger deal that includes around 14 million square feet of industrial space across various locations.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $50,900,000
• Square Footage: 188,000
• Price per Square Foot: $271
• Address: 10733-10763 Northwest 123rd Street, Medley

This acquisition was made possible through the sale of the property by Blackstone, a prominent investment firm led by Stephen Schwarzman. Hamid Moghadam, representing Prologis, played a key role in the transaction as the buyer's representative. The purchase of this warehouse aligns with Prologis' strategic growth plans and expands their presence in the industrial real estate market.