Prologis buys fourth NYC property in four months, paying $38M to Frito Lay for warehouse in Ridgewood

Prologis through the entity Queens Logistics Center 2 LLC paid Frito Lay’s Rolling Frito-Lay Sales, Lp $37.6 million for 18-51 Flushing Avenue in Ridgewood. The deal closed on December 20, 2019, and was recorded on January 23, 2020. The transaction consists of 1 parcel, including the tax class fireproof warehouse (E1). The property is 19,200 square feet. The parcel(s) have total development potential of 105,755 square feet.
The average sale price per square foot is $356.

Since September, Prologis has recorded three other sales, for $22 million in Ridgewood, $13 million in East Williamsburg  and $21 million in East Williasmburg. Prologis is also reported to be buying a site for $60 million in Sunset Park.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link