Prologis Acquires FedEx Distribution Facility in Southern California from Blackstone for $96.6 Million
Prologis has purchased a 311,363-square-foot FedEx distribution facility in Bloomington, Southern California, from Blackstone for $96.6 million.
Prologis, a global leader in logistics real estate, has acquired a 311,363-square-foot FedEx distribution facility in Bloomington, Southern California, from Blackstone, one of the world’s largest investment firms, for 96.6 million. The sale of this property is part of a larger 3.1 billion deal between Prologis and Blackstone, which includes several other industrial assets across the United States.
Located at 3255 & 11600 Cactus Avenue, the FedEx distribution facility sits on a 36-acre site in the heart of Bloomington. The property features a modern and well-maintained industrial building, offering high-quality warehouse space to meet the growing demand in the region.
The sale of this property highlights the robust demand for quality warehouses in Southern California. With the rise of e-commerce and the need for efficient logistics operations, industrial real estate has become a hot commodity in the region. The proximity to major transportation hubs and the dense population make Southern California an ideal location for distribution centers.
Prologis, led by CEO Hamid R. Moghadam and President Dan Letter, has been actively expanding its portfolio of logistics properties. The acquisition of the FedEx distribution facility aligns with Prologis’ strategy to invest in high-quality assets in key logistics markets. With a strong presence in Southern California, Prologis is well-positioned to capitalize on the growing demand for industrial real estate in the region.
On the other side of the deal, Blackstone, led by CEO Stephen A. Schwarzman and Global Head of Real Estate Nadeem Meghji, continues to strategically manage its real estate portfolio. The $3.1 billion deal with Prologis allows Blackstone to unlock value from its industrial assets while capitalizing on the strong market demand.
The transaction was facilitated by top commercial real estate brokers who specialize in industrial properties. Their expertise and market knowledge played a crucial role in bringing together the buyer and seller. The brokers involved in this deal have a proven track record of successfully closing major transactions in the industrial sector.
Overall, the sale of the FedEx distribution facility in Southern California for $96.6 million underscores the strong demand for quality warehouses in the region. As e-commerce continues to thrive and the need for efficient logistics operations grows, industrial real estate remains an attractive investment opportunity. Prologis’ acquisition of this property further solidifies its position as a leading player in the logistics real estate market, while Blackstone strategically manages its real estate portfolio to maximize value.