Prologis Acquires Davie Business Center for $352.2M

Why It Matters

The deal signals robust demand for high‑quality industrial space in South Florida and reinforces Prologis’ aggressive expansion strategy in a key logistics corridor. It also highlights the premium investors are willing to pay for near‑fully occupied, tenant‑diverse assets.

Key Takeaways

• Prologis paid $352.2M for 1.15M‑sq‑ft Davie Business Center.
• Purchase price equals $306 per square foot, a premium in region.
• Campus 97% occupied by 25 tenants, including Boeing and Comcast.
• Deal tops South Florida’s largest industrial transaction of 2026.

Pulse Analysis

Prologis’ $352.2 million acquisition of the Davie Business Center marks a watershed moment for South Florida’s industrial real estate market. The seven‑building, 1.15 million‑square‑foot campus sits at a strategic nexus of the Florida Turnpike and I‑595, offering tenants seamless access to major freight corridors. By paying roughly $306 per square foot, Prologis set a new benchmark for valuation in a market where occupancy rates hover near 95 percent, reflecting investor confidence in the region’s logistics infrastructure.

The transaction arrives amid a broader surge in demand for industrial space driven by e‑commerce growth, supply‑chain reshoring, and the expansion of last‑mile delivery networks. Tenants such as Boeing, Western Union and Comcast illustrate the diverse mix of aerospace, financial services and telecommunications firms seeking proximity to ports and highways. Compared with the $220 million Kurv Industrial purchase earlier this year, the Davie deal underscores a trend toward larger, higher‑quality assets that command premium rents and lower vacancy risk.

For Prologis, the acquisition deepens its footprint in a market projected to outpace national industrial absorption rates over the next decade. The company’s strategy of consolidating high‑performing, near‑fully leased properties positions it to capture economies of scale and deliver stable cash flows to investors. As the South Florida logistics corridor continues to attract national and international carriers, Prologis is well‑placed to leverage its expanded portfolio for future growth and value creation.

Deal Summary

Prologis paid $352.2 million to acquire the Davie Business Center, a 1.15 million‑sq‑ft warehouse campus in Broward County, from IDI Logistics. The property, 97% leased to tenants such as Boeing, Western Union and Comcast, represents the largest industrial sale in South Florida this year.