Industrial Giant Prologis Expands to 23K SF at SL Green’s 461 Fifth Avenue
By Isabelle Durso August 20, 2025 4:47 pm
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Industrial giant Prologis has more than tripled its office space in Midtown, Commercial Observer has learned.
Prologis, the global leader in logistics real estate development and investment, has signed a renewal and expanded to 23,000 square feet across two floors of SL Green Realty’s 461 Fifth Avenue, according to a release from tenant broker Cushman & Wakefield. Asking rent was $105 per square foot.
The REIT originally occupied 6,900 square feet when it moved into the 26-story office building near Bryant Park in 2020. Prologis was able to expand to 23,000 square feet through a sublease with an existing tenant vacating the building, C&W said. It’s unclear who the vacating tenant is.
“Expanding our New York office reflects Prologis’ deep commitment to the New York metro,” Mike Sacro, senior vice president and market officer for Prologis, said in a statement. “We support hundreds of companies and thousands of jobs across New York City, and this investment strengthens our foundation for continued growth in one of our most critical markets.”
The length of the renewal was unclear. C&W’s Jason Kroeger, Pierce Hance and Jonathan Southren brokered the deal for the tenant, while SL Green was represented in-house.
“This lease renewal and expansion is emblematic of what forward-thinking businesses are doing to position themselves in competitive markets like New York City, which continues to see strong demand and low availability of Class A space,” Kroeger said in a statement.
A spokesperson for SL Green did not immediately respond to a request for comment.
Prologis, the world’s largest industrial real estate investment trust, owned or managed 207 warehouse and distribution centers in the New York-New Jersey market as of June.
The REIT decided to expand its office at 461 Fifth Avenue as part of its “strategic decision to invest in highly accessible urban locations that support both operational efficiency and employee convenience,” according to the release.
Other tenants of SL Green’s office building between East 40th and East 41st streets include investment management company Lingotto, commercial logistics firm Certified Moving & Storage and independent fund administrator Centaur Fund Services U.S. French restaurant Brasserie Cognac de Monsieur Ballon is in the ground-floor retail space.
Isabelle Durso can be reached at idurso@commercialobserver.com.
