ProLogis selling 33M feet of industrial space
South Florida Business Journal reports: In what promises to be one of the nation’s largest industrial portfolio sales by square footage, real estate titan ProLogis (NYSE: PLD) is selling 33.23 million square feet nationwide.
The portfolio spans 14 states and the District of Columbia, including 1.73 million square feet in Florida, according to the investment summary package. It carries an estimated value $1.43 billion, real estate experts say.
“You can’t sell 33 million square feet of industrial space right now,” said real estate analyst Dan Fasulo, managing director of New York-based Real Capital Analytics. “It is a signal of distress.”
View the full article on South Florida Business Journal: ProLogis selling 33M feet of industrial space
Posted by: Nina Turner