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Blackstone Pays $195.9M for S. Florida Industrial Park
A Blackstone affiliate acquired the seven-building Prologis Gateway Center industrial park in Boynton Beach for a combined $195.9 million.
The S. Florida Business Journal reports Prologis sold nearly 800,000 square feet of buildings to Blackstone. The buyer operates its national industrial portfolio through its Link Logistics affiliate.
The portfolio last sold for a combined $58.48 million in 2010.
The largest deal was $84.63 million for 334,522 square feet of warehouses at 1103 W. Gateway Blvd., plus 3602 and 3402 Quantum Blvd. They were built on the 23.6-acre site between 2001 and 2004.
At the same time, 266,080 square feet of warehouses at 2047, 2045, 2027, and 2017 High Ridge Road traded for $69.09 million. They were constructed on 16.26 acres in 2000.
Finally, the 198,114-square-foot warehouse at 1920 High Ridge Road sold for $42.18 million. It was built on the 13.75-acre site in 2005.
- ◦Sale/Acquisition
