Prologis Taps Colliers to Lease 2.8 MSF Portfolio

Image by Geralt via Pixabay

Prologis has retained Colliers as exclusive leasing agent for a 24-building, 2.8 million-square-foot industrial portfolio located around Raleigh, N.C. Executive Vice Presidents Larry Lakins and Hunter Willard, alongside Senior Vice President Andrew Young, will continue to oversee all leasing efforts at the fully occupied properties.

Prologis gained ownership of the Research Triangle portfolio in October, when the firm acquired Duke Realty Corp. in the industry’s largest enterprise-level deal of the past four years. The purchase included the entirety of Duke’s investment, management and development endeavors.

The portfolio profile

3000 Perimeter Park Drive. Image via Google Street View

Completed between 1994 and 2020, the industrial campuses are primarily used for logistics and warehousing operations, according to CommercialEdge information. Tenants include a diverse array of local, national and international companies, from Pharmodel and PMC to Anixter and Amazon, the same source shows.

All properties have easy access to the area’s tangle of major thoroughfares that include Chapel Hill Road and U.S. Route 70, as well as Interstate 40.

The portfolio includes:

• CenterPoint Business Park, located at 1757 and 1805 T.W. Alexander Drive in Durham, N.C. Together, the two facilities total 555,418 square feet.
• The four-building, 358,272-square-foot Perimeter Park in Morrisville, N.C. The properties are situated at 2700-3000 Perimeter Park Drive.
• Woodlake Center, comprising 503,490 square feet across five warehouses at 100 to 501 Innovation Ave., also in Morrisville.
• Walnut Creek, a five-building campus located at 3070, 3071, 3080 and 4000 Business Park Drive, as well as 540 Civic Blvd. in Raleigh.
• 905,368 square feet across eight facilities at the Greenfield North industrial park, located at 600-1201 N. Greenfield Parkway in Garner, N.C., south of Raleigh.