Prologis Drops $352M in Top South Florida Industrial Sale This Year

The 1.2 million-square-foot Broward County campus is 97 percent leased

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Prologis has paid $352.2 million for an almost fully leased warehouse campus in Broward County, making it South Florida’s biggest industrial sale so far this year.

The seven-building property, called Davie Business Center, totals 1.15 million square feet near the intersection between the Florida Turnpike and Interstate 595 at 3300 and 3380 Davie Road, the South Florida Business Journal reported

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The transaction equates to about $306 per square foot. The campus is 97 percent leased to 25 tenants that include Boeing, Western Union and Comcast, according to a representative for Prologis.

IDI Logistics, the seller, developed the asset between 2013 and 2022.

The deal tops the $220 million April purchase by Kurv Industrial, formerly called Bridge Industrial, for a new, 819,752-square-foot distribution center in Pompano Beach. That same month, San Francisco-based Prologis sold off a 798,716-square-foot industrial asset in Boynton Beach for nearly $200 million to an affiliate of Blackstone

A representative for IDI Logistics did not immediately respond to requests for comment.

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