Prologis Acquires Development Site In Gravesend, Brooklyn From National Grid For $51.25M

A development site located at 2731 East 12th Street in Gravesend, Brooklyn, has been sold in a recent transaction. The property, encompassing 1,462,000 square feet, was purchased by Prologis from National Grid for a total sale price of $51,250,000. The price per buildable square foot (PPBSF) was $35.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $51,250,000
• Address: 2731 East 12th Street, Gravesend, Brooklyn
• Buyer: Prologis
• Seller: National Grid
• Brokers: Brendan Maddigan, Ethan Stanton, Michael Mazzara, Hall Oster, Winfield Clifford, Braedon Gait, Jordan Yarboro, and Brendan Callahan - JLL
• BSF: 1,462,000
• PPBSF: $35

The transaction was facilitated by a team of brokers from JLL, including Brendan Maddigan, Ethan Stanton, Michael Mazzara, Hall Oster, Winfield Clifford, Braedon Gait, Jordan Yarboro, and Brendan Callahan. Their representation aided in the successful sale of the development site to Prologis.