Prologis sells fully leased industrial assets for $53M in softening market
Prologis lightened its South Florida industrial portfolio after selling three Broward County warehouses for $53.1 million. An affiliate of Arnet Pharmaceuticals, led by CEO Jose Tabacinic, acquired the industrial complex at 2501 to 2555 Davie Road in Davie from San Francisco-based Prologis, led by CEO Hamid Moghadam, records show. The buyer partially financed the purchase with a $37 million loan from TD Bank. The deal breaks down to $267 per square foot. Davie-based Arnet paid $37.2 million above the previous sale price 11 years ago. Arnet occupies half of the fully leased complex, known as Westport Business Park, under a […]This article originally appeared on The Real Deal. Click here to read the full story.
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