Prologis Puts Two On Sales Block
If at first you don't lease, try to sell it. (Those are wise words for real estate and used car salesmen.) That's Prologis' strategy with two Atlanta properties, which are now for sale. The two facilities are Prologis Atlanta West—a 95k SF flex warehouse at 6150 LaGrange Blvd—and a 97k SF flex facility at 6160 Purdue Dr. Both had been tapped for lease by Colliers.
Prologis' Kent Mason says the decision to offer for sale comes at a time when interest rates seem to be remaining low. (Though we're sleeping with one eye open, in case Ben Bernanke is hiding under our bed.) "With interest rates low and the market activity heating up, we see an opportunity to fill vacancies through sales to users, increasing overall occupancy and achieving competitive market prices," Kent told us. The company is seeking more than $2.5M on each building, he says.