Prologis Snaps Up Center Denver Site, Plans Industrial Development
Industrial real estate giant Prologis aims to expand its already sizable Denver footprint with the acquisition of 40 acres in central Denver on which it plans to develop an unspecified amount of industrial space. The site is at 60th Avenue and Washington Street, north of where Trammell Crow is building more than 1M SF of industrial space where the Asarco Globe Plant used to be.
This is the company's largest land acquisition in 2016, the Denver Business Journal reports. It fits with Prologis' general strategy, which focuses on infill locations, and owning and operating logistics facilities near key seaports, airports and major highway interchanges. Cushman & Wakefield facilitated the deal. [DBJ]