{"id":1004752579,"date":"2025-03-31T04:00:28","date_gmt":"2025-03-31T12:00:28","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004752579"},"modified":"2025-03-31T06:27:21","modified_gmt":"2025-03-31T14:27:21","slug":"prologis-closes-2-deals-worth-230m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/prologis-closes-2-deals-worth-230m\/","title":{"rendered":"Prologis Closes 2 Deals Worth $230M"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Prologis-Deals.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"600\" data-attachment-id=\"1004752581\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/prologis-closes-2-deals-worth-230m\/prologis-deals\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Prologis-Deals.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Prologis-Deals\" data-image-description=\"&lt;p&gt;Properties at 1600 N. 25th Ave., Melrose Park, Ill., and 201 Middlesex Center Blvd., South Brunswick, N.J., and &lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;: Prologis\u2019 disposal closed in Chicagoland (upper half), while its acquisition closed in South Brunswick, N.J. (lower half). Images courtesy of CommercialEdge&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Prologis-Deals.jpg?w=800\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Prologis-Deals.jpg\" alt=\"Exterior shot of the industrial assets sold and purchased by Prologis.\" class=\"wp-image-1004752581\" style=\"width:400px;height:auto\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Prologis-Deals.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Prologis-Deals.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Prologis-Deals.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/a><figcaption class=\"wp-element-caption\">Prologis sold a Chicagoland asset (upper half) and acquired a property in South Brunswick, N.J. (lower half). <em>Images courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Prologis has recently closed two deals, a purchase and a sale, worth $229.8 million, according to CommercialEdge data. <\/p>\n\n\n\n<p>The acquisition involved a 600,000-square-foot industrial asset in South Brunswick, N.J., the same source shows. ARC Realty sold the warehouse for $166.8 million.<\/p>\n\n\n\n<p>A $50 million loan issued by Principal Financial Group in 2020 encumbers the property. The note is due to mature in 2030.<\/p>\n\n\n\n<p>The one-story facility features a 36-foot clear height and a 180-foot truck court, as well as 96 docks and four grade-level loading doors. The property was 33 percent leased as of August 2024, CommercialEdge shows. The tenant roster includes YMF Co. and Synnex.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/how-much-will-cre-investment-increase-this-year\/\">How Much Will CRE Investment Increase This Year?<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Located on nearly 35 acres at 201 Middlesex Center Blvd., the 2008-built warehouse is roughly 1 mile from Interstate 95 and some 29 miles southwest of The Port Authority of New York &amp; New Jersey. Prologis\u2019 footprint in New York and New Jersey totaled more than 55 million square feet in September 2024.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-prologis-sells-to-tenant\">Prologis sells to tenant<\/h2>\n\n\n\n<p>A few days prior to the New Jersey purchase, Prologis sold a 458,620-square-foot asset in Melrose Park, Ill. The property\u2019s tenant\u2014Interlake Mecalux\u2014purchased it for $63 million, according to CommercialEdge data. The company is a manufacturer of pallet racks, metal shelving and warehousing racking systems.<\/p>\n\n\n\n<p>The warehouse has a clear height of 30 feet, a 141-foot truck court and a total of 30 loading doors, including 14 grade-level docks. The building also comprises a two-story office component.<\/p>\n\n\n\n<p>Completed in 1999, the facility rises on roughly 23 acres at 1600 N. 25th Ave., about 15 miles west of downtown Chicago and less than 7 miles south of Chicago O\u2019Hare International Airport. Prologis was the market&#8217;s <a href=\"https:\/\/www.commercialsearch.com\/news\/top-commercial-real-estate-owners\/\">top commercial real estate owner<\/a> of industrial assets at the end of September 2024, with a footprint of 81.6 million square feet.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-other-recent-prologis-deals\">Other recent Prologis deals<\/h2>\n\n\n\n<p>In December, Prologis <a href=\"https:\/\/www.commercialsearch.com\/news\/prologis-skybox-sell-chicago-area-data-center-project\/\">sold another Chicagoland asset<\/a>. At the time, the property was undergoing an adaptive reuse process transforming it into a data center. <\/p>\n\n\n\n<p>Two months prior, the firm <a href=\"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-50m-for-western-industrial-portfolio\/\">sold a two-property portfolio<\/a> to EQT Exeter. The 312,604-square-foot collection in Seattle and Portland, Ore., changed hands for $49.9 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The largest transaction involves a New Jersey asset.<\/p>\n","protected":false},"author":3471,"featured_media":1004752581,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21808,21748,21783,13,21742,10],"tags":[37405,32956],"class_list":["post-1004752579","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-featured","category-industrial","category-investment","category-midwest","category-latest","category-northeast","tag-principal-financial-group","tag-prologis"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Prologis Closes 2 Deals Worth $230M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Prologis paid $166.8 million for an industrial asset in South Brunswick, N.J., and sold another property in Melrose Park, Ill.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/prologis-closes-2-deals-worth-230m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Prologis Closes 2 Deals Worth $230M\" \/>\n<meta property=\"og:description\" content=\"Prologis paid $166.8 million for an industrial asset in South Brunswick, N.J., and sold another property in Melrose Park, Ill.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/prologis-closes-2-deals-worth-230m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-31T12:00:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-03-31T14:27:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Prologis-Deals.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Claudiu Tiganescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/prologis-closes-2-deals-worth-230m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/prologis-closes-2-deals-worth-230m\/\",\"name\":\"Prologis Closes 2 Deals Worth $230M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/prologis-closes-2-deals-worth-230m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/prologis-closes-2-deals-worth-230m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Prologis-Deals.jpg\",\"datePublished\":\"2025-03-31T12:00:28+00:00\",\"dateModified\":\"2025-03-31T14:27:21+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/cbed638584257d6fb5a2a9c95c982b66\"},\"description\":\"Prologis paid $166.8 million for an industrial asset in South Brunswick, N.J., and sold another property in Melrose Park, Ill.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/prologis-closes-2-deals-worth-230m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/prologis-closes-2-deals-worth-230m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/prologis-closes-2-deals-worth-230m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Prologis-Deals.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Prologis-Deals.jpg\",\"width\":800,\"height\":600,\"caption\":\": Prologis\u2019 disposal closed in Chicagoland (upper half), while its acquisition closed in South Brunswick, N.J. (lower half). 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