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New York Proposed
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„ Prologis is making a play for a huge industrial site in the South Bronx.

The warehouse REIT is in late-stage talks to buy the former News Corp. printing plant in Port Morris, sources familiar with the negotiations told The Real Deal.

The roughly 400,000-square-foot facility sits on 16 acres, about the size of the World Trade Center site. The purchase price wasn’t immediately clear, but a person familiar with the talks said Prologis plans to spend more than $600 million to acquire and develop the property.

A representative for Prologis did not immediately respond to a request for comment.“

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this doesn’t sound like a redevelopment prospect, its probably just a typical real estate transaction. Prologis will purchase the warehouse and make money by finding a company to work there. This is a valuable distribution location since The Major Deegan runs through Port Morris and connects to the Triboro and I95.

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They’ll probably redevelop it, because it’s a printing plant, not a warehouse. And Prologis has recently been developing vertical multilevel warehouse structures in the NYC area, given the space constraints and extreme need for distribution space.

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