Prologis Expands New York Logistics Footprint With $49 Million JFK-Area Warehouse Purchase

Prologis Expands New York Logistics Footprint With $49 Million JFK-Area Warehouse Purchase

Prologis, Inc. has acquired a last-mile industrial facility near John F. Kennedy International Airport for $49 million, according to New York City property records made public Wednesday.

The San Francisco-based industrial REIT, acting through an entity called Prologis Exchange NY 2000, picked up the 116,725-square-foot property at 153-44 South Conduit Avenue in Queens, known as the JFK Conduit Logistics Center. The seller was Wildflower, the development firm led by Adam Gordon, which transacted through its WF Industrial VI LLC.

Aaron Rosdal, senior vice president of acquisitions and dispositions at Prologis, signed on behalf of the buyer, while Gordon signed for the seller. The broker behind the deal was not immediately known, and representatives for both companies did not respond to requests for comment.

A Short Hold for the Seller

Wildflower acquired the warehouse in 2020 for an undisclosed sum. The sale follows the firm’s June 2025 refinancing of the asset with a $48.1 million bridge loan from Barings, meaning the disposition came roughly a year after that financing was put in place.

Completed in 2023 along the JFK Expressway, the building houses 61,425 square feet of storage space along with a 55,300-square-foot underground parking garage. Current tenants include Luxury Portable Toilet Rentals of New York and home inspection service Dry as a Bone.

The reasons behind Wildflower’s decision to sell were not disclosed, but it marks the company’s second notable Queens industrial disposition this year. In February, Wildflower sold a 245,337-square-foot warehouse at 28-10 Whitestone Expressway in College Point to Terreno Realty for $92 million — a transaction that came just a year after Gordon’s firm had paid $35 million for it.

Prologis Keeps Buying

For Prologis, the purchase adds to an active acquisition run, including recent large-scale deals in South Florida. The company, whose shares closed at $135.66, down about 0.13% in the latest session, carries a market capitalization of roughly $132 billion and is the flagship name among industrial REITs focused on distribution and logistics real estate.

Airport-adjacent last-mile facilities remain among the most tightly held industrial assets in the New York metro, given limited land supply and proximity to one of the region’s busiest cargo hubs.

What to watch

• Prologis’s upcoming quarterly earnings report, which may address recent acquisition activity and portfolio strategy in the New York market.
• Whether Wildflower continues its pattern of industrial dispositions in Queens, following this sale and the February Whitestone Expressway deal.
• Details on tenant leases and occupancy at the JFK Conduit Logistics Center, which were not disclosed in city records.

Source: original release