Wildflower Sells Brooklyn Amazon Warehouses for $230M

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CBRE Investment Management has acquired two Amazon-operated warehouses in Brooklyn from Wildflower for $230 million, Commercial Observer has learned.

The adjacent properties, located at 12555 Flatlands Avenue and 12595 Flatlands Avenue in the East New York neighborhood sold in an all-cash deal in early April. CBRE’s Doug Middleton and Brian Fiumara represented the buyer and seller in the off-market transaction. 

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Manhattan-based CBRE Investment Management is an independently operated affiliate of CBRE, the largest commercial real estate services firm and brokerage in the U.S. 

Amazon signed a long-term, 211,000-square-foot lease at the site, known as Brooklyn Logistics Center, in November 2020. Wildflower purchased the two neighboring warehouses for $23.5 million in 2019, according to property records. The warehouse at 12555 Flatlands is formerly a PepsiCo distribution center. 

Representatives for CBRE Investment Management, CBRE Group and Amazon did not immediately return requests for comment. Wildflower declined to comment.

Wildflower is Amazon’s most active e-commerce warehouse and parking developer in New York City. The developer is in the midst of selling off its self-storage portfolio to narrow its focus on the e-commerce and film studio sectors. 

Andrew Coen can be reached at acoen@commercialobserver.com