The sale was for only a part of a major distribution center. New buildings contain an indicated 249,604 sf of gross space.
The sale was part of a lease option agreement under which Funding (the current buyer) has the right to buy 27 properties owned by Prologis. In March, three other buildings in the Port 95 Commerce Park were sold to Funding for $23.6 million.
Stephen K. Schutte is vice president of Prologis Ltd. III. Andrew L. Stidd, Tony Wong and Isam Salah are executives of Distribution Funding III. Hollywood is 20 miles north of Miami.
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