Blackstone pays $195.9M for Prologis park

Blackstone’s Link Logistics bought Prologis Gateway Center, a seven-building industrial park in Boynton Beach, for about $195.9 million. (bizjournals.com) The sale was reported April 26 by the South Florida Business Journal, which described the seller as Prologis and the price as roughly $196 million. (bizjournals.com) Gateway Center sits in Boynton Beach near Interstate 95 and the Florida Turnpike, two of South Florida’s main freight corridors. Prologis markets the park as Class A industrial space. (prologis.com) One available building in the park, Prologis Gateway Center 600 at 1103 Gateway Boulevard, totals 142,202 square feet and had 8,707 square feet available as of February 11, 2026. (prologis.com) The buyer is Blackstone’s Link Logistics, which describes itself as the largest U.S.-only owner and operator of last-mile industrial real estate. The company says it has more than 3,000 properties nationwide. (linklogistics.com) The Boynton Beach purchase follows another South Florida industrial buy by Blackstone and Link in late March. In that deal, they paid $163.1 million for a four-building, 623,300-square-foot warehouse complex in Pompano Beach. (therealdeal.com) That March purchase came after Blackstone had spent 2024 and 2025 selling more than $1 billion of warehouses across Miami-Dade, Broward and Palm Beach counties, according to The Real Deal’s summary of prior South Florida Business Journal reporting. (therealdeal.com) Palm Beach County’s industrial market has been uneven this year. Colliers said first-quarter 2026 leasing totaled 469,000 square feet, the lowest level in two years, and vacancy rose to 7.2%. (colliers.com) CBRE’s first-quarter report painted a similar picture, with Palm Beach industrial vacancy at 7.7% and asking rents at $13.87 per square foot after a supply-driven correction. (cbre.com) The deal leaves Blackstone buying back into a South Florida warehouse market where leasing has cooled but modern logistics buildings near major highways are still drawing large pools of capital. (colliers.com) (linklogistics.com)