Blackstone's Link Logistics Buys Pompano Business Center Warehouses for $163M

Blackstone and its industrial logistics subsidiary Link Logistics acquired Pompano Business Center, a four-building warehouse campus totaling 623,256 square feet in Pompano Beach, Florida, from Clarion Partners for $163.1 million ($262 per square foot). The portfolio, located at 2510 West Copans Road and 1901, 2001, and 2004 Northwest 25th Avenue, spans 37.4 acres and was developed between 2000 and 2002. Clarion Partners had purchased the complex for $77.3 million in 2016, realizing a gain of approximately 111%. Tenants include Lowe's Home Centers, WorldPac, Stoneline Group, and American Flooring Supplies. CBRE represented the seller. - Link Logistics: Blackstone-backed industrial REIT led by CEO Luke Petherbridge, one of the largest owners of last-mile industrial real estate in the U.S. - Clarion Partners: New York-based real estate investment manager led by CEO David Gilbert; sold the 37.4-acre campus for more than double its 2016 purchase price. No acquisition financing details disclosed.