Hamid R. Moghadam Of Prologis Acquires Industrial Portfolio From Mark Saturno Of IDI Logistics For $352.16M

The industrial asset involved in the transaction is the Davie Business Center, comprising seven buildings situated at 3300, 3350, 3360, 3370, 3380, 3410 & 3430 Davie Road in Davie, FL. The total square footage of the property is 1,150,000, and it was sold for a transaction amount of $352,160,000, equating to a price per square foot of $306. The property is classified as Class A logistics and was constructed between 2013 and 2022, with 97% occupancy leased to 25 tenants.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $352,160,000
• Square Footage: 1,150,000
• Price per Square Foot: $306
• Buyer: Hamid R. Moghadam - Prologis
• Seller: Mark Saturno - IDI Logistics
• Broker: CBRE

The deal was facilitated by CBRE, which represented the seller, IDI Logistics, in the transaction. This acquisition strengthens Prologis’ presence along the I-595 industrial corridor in South Florida.