Prologis Acquires Industrial Property In Lodi For $5.55M

Prologis, the world's largest industrial real estate company, has acquired a short-term leased industrial property at 80 Hancock Street in Lodi, NJ. The property was sold by L/GAM LLC for a total of $5.55 million. The transaction took place on May 25, 2023. The industrial property is situated on 1.8 acres of land and offers approximately 24,500 square feet of space. The sale price translates to a price per square foot of $227. 80 Hancock Street's prime location in Lodi, NJ aligns with the growing demand for industrial properties in the area and provides excellent infrastructure access.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $5,550,000
• Address: 80 Hancock Street, Lodi, NJ
• Market: Lodi
• Acres: 1.8

In this transaction, Prologis served as the buyer and L/GAM LLC was the seller. The deal was brokered by Kevin Dudley, Nick Klacik, Chad Hillyer, Elli Klapper, Jeremy Wernick, Mark Silverman, and Charles Berger from CBRE. The acquisition of 80 Hancock Street demonstrates Prologis' strategic investment in the thriving industrial market in New Jersey and showcases their commitment to acquiring high-quality properties in prime locations.