December 23, 2021

Prologis buys Brooklyn industrial property near Netflix studio for $27.5 million

News Recent Closings

New York Business Journal

Prologis has picked up an industrial property in East Williamsburg, Brooklyn, for $27.5 million.

The site at 280 Johnson Ave. includes a 33,550-square-foot building with an adjacent lot. Babureddy Mareddy was the seller.

Ofer Cohen, Dan Marks and Daniel Lebor of TerraCRG represented the buyer, Prologis (NYSE: PLD), in the deal. David Junik and Decio Baio of Pinnacle Realty represented the seller.

Down the block from this property, Netflix in September opened a 170,000-square-foot space at 333 Johnson Ave. that includes soundstages, offices and meeting rooms.

“We continue to see confidence in the industrial market and especially in Bushwick due to the presence of Netflix that provides an opportunity for buyers to take advantage not just of the industrial market, but also of the creative/film/hi-tech market,” Junik said in a statement.

The site at 280 Johnson Ave. is zoned M1-1/M1-2, which generally allows for many industrial, office, hotel and retail uses. It’s situated in the North Brooklyn Industrial Business Zone, a designation that provides incentives for industrial and manufacturing companies.

280 Johnson Ave. is close to the Brooklyn-Queens Expressway, offering easy distribution access to Queens, Manhattan and the rest of Brooklyn.

Prologis, headquartered in San Francisco, acquires, develops, operates and manages logistics real estate properties around the world, including in the New York City metropolitan area.