Real estate investment trust (REIT) Prologis, via the entity Prologis Exchange NY 2000, has acquired a 116,725-square-foot warehouse at 153-44 South Conduit Avenue, known as JFK Conduit Logistics Center, from Adam Gordon's Wildflower. The purchase price was US$49 million, according to city records released on Wednesday.
Aaron Rosdal, Senior Vice President for Acquisitions and Dispositions at Prologis, signed the deal for the buyer, while Gordon signed for the seller, who used LLC WF Industrial VI. The broker for the transaction is not known. Spokespersons for Prologis and Wildflower did not immediately respond to requests for comment. Wildflower had acquired the warehouse in 2020 for an undisclosed amount.
Property Background and Further Activities
News of the recent sale follows the industrial developer's refinancing of the JFK property with a US$48.1 million bridge loan from Barings in June 2025, as previously reported. The warehouse, located along the JFK Expressway, opened in 2023 and is currently occupied by two tenants: Luxury Portable Toilet Rentals of New York, a mobile toilet provider, and Dry as a Bone, a home inspection service provider.
The property comprises 61,425 square feet of warehouse space and a 55,300-square-foot underground car park. The reason Wildflower decided to dispose of the property is unclear, but this is not the company's first industrial sale in Queens this year.
Earlier in February, Wildflower sold the 245,337-square-foot warehouse at 28-10 Whitestone Expressway in College Point to Terreno Realty for US$92 million. This sale occurred just one year after Gordon acquired the property for US$35 million. Meanwhile, Prologis continues to expand its growing industrial portfolio, most recently through extensive acquisitions in South Florida.
