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**Prologis Acquires Nearly 1M-SF Industrial Portfolio in Brisbane**
Prologis has acquired a 952,869-square-foot industrial portfolio located in Brisbane, marking the largest industrial transaction in the Bay Area so far this year. Reportedly purchased for $314.5 million, the portfolio was sold by the California State Teachers’ Retirement System (CalSTRS), according to the San Francisco Business Times.
The portfolio consists of 11 buildings situated within the Crocker Industrial Park, which is considered the last significant cluster of institutional-grade industrial assets before entering the city of San Francisco.
This acquisition bolsters Prologis’ presence in the Bay Area, enhancing its ability to serve customers both locally and across the broader region. The move aligns with the company’s ongoing strategy to invest in key infill locations and logistics hubs near major population centers. At the time of acquisition, the portfolio was approximately 95% leased.
With this addition, Prologis now operates more than 285 facilities totaling over 28.5 million square feet throughout the Bay Area, including 13 other assets totaling 512,000 square feet in the same industrial park.
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