Blackstone Pays $200M for Another Industrial Portfolio in South Florida

Less than a month after buying an industrial campus in South Florida, Blackstone has paid nearly $200 million for another warehouse portfolio. The private equity giant’s affiliate, Link Logistics, bought eight buildings spanning 798,716 square feet in Boynton Beach from Prologis for $195.9 million. 

In the most expensive part of the transaction, the buyer paid $84.6 million for three warehouses, totaling 334,522 square feet, at 3602 and 3402 Quantum Boulevard as well as 1103 East Gateway Boulevard, less than a mile west of Interstate 95. The buildings sit across 23.6 acres.

Four more buildings — totaling 266,080 square feet, including two spanning just under 57,000 square feet each — sold for a combined $69.1 million. The warehouses sit across 16.3 acres between 2017 and 2047 High Ridge Road, one mile from the Quantum Boulevard buildings. 

Lastly, a 198,114-square-foot, 13.4-acre warehouse at 1920 High Ridge Road, directly facing I-95, sold for $42.2 million. All eight properties were constructed between 2000 and 2005. 

Prologis, one of the world’s largest industrial real estate investment trusts, assembled the entire portfolio for $58.48 million in 2010, meaning the recent transaction reflects roughly a threefold increase in value. The change likely reflects the rise of e-commerce and South Florida’s population growth since the pandemic.

Just last month, Blackstone bought a warehouse campus in Pompano Beach for $163.1 million. That campus, too, saw a significant jump in value, selling more than twice what it last sold for 10 years ago.

The acquisition comes after Blackstone sold off several other industrial properties across South Florida for over $1 billion since late 2024.

Representatives for Blackstone and Prologis did not immediately respond to requests for comment.

Julia Echikson can be reached at jechikson@commercialobserver.com.