Posted on February 23, 2016 · Posted in Industrial / Flex, Investments, Land, Office

Prologis sold its property in the Commerce Park of Coral Springs for $24.4 million.

The Denver-based real estate investment group (NYSE: PLD) issued three deeds to affiliates of Exeter Property Group, of Plymouth Meeting, Pennsylvania. That gave it control of two warehouses completed in 2009 and four vacant parcels in the business park just off the Sample Road exit of the Sawgrass Expressway.

Prologis sold the 99,991-square-foot warehouse on 5.4 acres at 4020 N.W. 126th Street to Exeter for $8.55 million, or $86 per square foot. The neighboring warehouse at 4050 N.W. 126th Street, with identical dimensions, traded for $7.95 million, or $80 per square foot.

Exeter picked up 23.2 acres of land and 12.1 acres of lakes there for $7.9 million. The property could be used for the expansion of the business park.


Source: SFBJ

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