Prologis Closes 2025’s Biggest Bay Area Industrial Deal at $315M
Nearly a dozen small-bay warehouses changed hands.
Prologis has acquired an 11-asset industrial portfolio from CalSTRS encompassing more than 940,000 square feet in Brisbane, Calif., as reported by San Francisco Business Times. This was the Bay Area’s largest industrial sale so far this year, at $314.5 million.
The properties are part of Crocker Industrial Park, a campus encompassing more than 2.9 million square feet, according to Yardi Matrix data. Prologis already owned more than 500,000 square feet within the park. The assets are 95 percent leased, and tenants include Jericho Moving and Storage, Metro Air Services and Primo Brands Delivery, among others.
The shallow-bay warehouses average 85,800 square feet and are more than 26 years old. CBRE Vice President James Breeze previously told Commercial Property Executive that this niche sector isn’t as institutionally owned as bulk industrial, providing more investment opportunities while strong fundamentals attract buyers.
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Crocker Industrial Park is some 9 miles south of downtown San Francisco. The Bayshore Station operates less than 3 miles away, while thoroughfares such as U.S. Route 101 and Interstate 280 run within about 4 miles.
Prologis owned 803 million square feet of industrial space across more than 3,800 buildings throughout the U.S. as of September, according to third-quarter data released by the company. The company has deployed nearly $1.2 billion throughout purchases across the globe during the first nine months of 2025.
Earlier this year, the company paid $166.8 million for a 600,000-square-foot warehouse in South Brunswick, N.J. Prologis also sold a property in Melrose Park, Ill., for $63 million, wrapping up these two deals for $229.8 million.
Moderate investment, yet strong fundamentals
The Bay Area’s average industrial rent stood at $13.99 in September, above the $8.72 U.S. figure, according to the latest CommercialCafe report. Vacancy clocked in at 8.1 percent that same month, below the 9.5 percent national average.
A total of $687 million in assets traded during the first nine months of 2025. In terms of industrial investment volume, the Bay Area lagged other Western metros such as Phoenix ($2.4 billion), Los Angeles ($1.9 billion) and the Inland Empire ($1.2 billion), the same source shows.
In the first three quarters, assets in the market changed hands at $235.52 per square foot on average, above the national figure of $142.00, the report reveals. Prologis’ acquisition was priced at $330 per square foot.
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