Several Dallas area properties are included in a more than $3 billion purchase by Prologis Inc. from Blackstone.
The Five Lakes Ranch offered for sale southwest of Fort Worth is priced at $12 million.
But a look at county deed records identifies several properties Prologis just purchased from Blackstone. The acquisitions include a 266,000-square-foot warehouse on State Highway 161 in Grand Prairie, an almost 200,000-square-foot warehouse on Marquis Drive in Garland and an office and industrial complex on Clifford Drive in Northwest Dallas.Blackstone obtained some of the Dallas-area properties in a 2019 purchase from California-based Colony Industrial.
The Blackstone deal adds to Prologis’ huge industrial property holdings in the Dallas-Fort Worth area. The real estate investment trust owns more than 250 warehouse buildings in North Texas., which owned more than 17 million square feet in Dallas-Fort Worth.Prologis is one of the world’s largest industrial owners, with 1.2 billion square feet of logistics properties in 19 countries. The acquisition from Blackstone added 77 new clients to the company’s customer list.
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