{"id":1004800677,"date":"2026-06-02T03:24:18","date_gmt":"2026-06-02T11:24:18","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004800677"},"modified":"2026-06-02T03:24:20","modified_gmt":"2026-06-02T11:24:20","slug":"pgim-jv-sells-fedex-southeast-portfolio-for-300m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/pgim-jv-sells-fedex-southeast-portfolio-for-300m\/","title":{"rendered":"PGIM JV Sells FedEx Southeast Portfolio for $300M"},"content":{"rendered":"
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\"Exterior<\/a>
The portfolio includes this 253,440-square-foot FedEx facility in Punta Gorda, Fla. Image courtesy of JLL Capital Markets<\/em><\/figcaption><\/figure><\/div>\n\n\n

PGIM and Miramar Capital have sold a 1.6 million-square-foot portfolio of six industrial facilities, all occupied by FedEx and spread across four states. <\/p>\n\n\n\n

JLL Capital Markets arranged the $300 million transaction on behalf of the seller. The buyer is an entity linked to SMBC Group, according to public records.<\/p>\n\n\n\n

The portfolio, fully occupied under long-term net-lease agreements, consists of Class A last-mile distribution centers<\/a> across four states in the Southeast:<\/p>\n\n\n\n

\u2022\u00a0 9301 Piper Road in Punta Gorda, Fla.<\/p>\n\n\n\n

\u2022\u00a0 1010 Evergreen Road in Anderson, S.C.<\/p>\n\n\n\n

\u2022\u00a0 395 Fantasy Harbour Blvd. in Myrtle Beach, S.C.<\/p>\n\n\n\n

\u2022\u00a0 1850 Parkway Drive SE in Christiansburg, Va.<\/p>\n\n\n\n

\u2022\u00a0 556 Old Airport Road in Bristol, Va.<\/p>\n\n\n\n

\u2022\u00a0 1912 Stafford St. Ext. in Wingate, N.C.<\/p>\n\n\n\n

Purpose-built between 2022 and 2023, the buildings range from about 251,000 to 337,000 square feet.<\/p>\n\n\n\n

\n\n\n\n

READ ALSO:<\/strong> Power Constraints Slow Warehouse Automation<\/a><\/p>\n\n\n\n

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The JLL Capital Markets team included Senior Managing Directors Britton Burdette, Dennis Mitchell, Luis Castillo and Bill Prutting, along with Managing Directors Jim Freeman, Maggie Dominguez and Bobby Norwood.<\/p>\n\n\n\n

PGIM keeps busy across the map, sectors<\/h2>\n\n\n\n

As a high-profile real estate institution, PGIM has kept active across multiple markets and CRE sectors.<\/p>\n\n\n\n

In early March, the company sold a Chicago-area outpatient medical facility<\/a> to a joint venture of Farpoint Development and The Landes Group. Later that month, PGIM provided $91 million <\/a>to CIRE Equity\u2019s CREIT for the acquisition of an industrial property in Van Nuys, Calif.<\/p>\n\n\n\n

At the beginning of April, a partnership of PGIM, Advance Realty Investors and Greek Real Estate Partners signed Maersk to a 233,492-square-foot lease<\/a> in Linden, N.J. The company will occupy nearly half of a 515,600-square-foot distribution facility at 200 Linden Logistics Way. Not long after, law firm McCarter & English signed an 11-year lease<\/a> for 47,466 square feet at PGIM Real Estate\u2019s One International Place in central Boston.<\/p>\n","protected":false},"excerpt":{"rendered":"

The six last-mile facilities are across four states.<\/p>\n","protected":false},"author":882,"featured_media":1004800683,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21748,21783,21742,32781],"tags":[33339,44006,50044,34714],"class_list":["post-1004800677","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-industrial","category-investment","category-latest","category-southeast","tag-fedex","tag-jll-capital-markets","tag-miramar-capital","tag-pgim-real-estate"],"acf":[],"yoast_head":"\nPGIM JV Sells FedEx Southeast Portfolio for $300M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"PGIM and Miramar sold a 1.6 million-square-foot logistics portfolio, occupied by FedEx. 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