Prologis Pays $49M for a JFK Conduit Warehouse Built in 2022

Prologis, the largest industrial landlord in the country, has paid $49 million for the warehouse at 153-44 South Conduit Avenue in Queens, a block from the JFK Expressway, and the deed was recorded Sept. 16.

Why it matters

The seller, Wildflower, is a private industrial owner that bought the property in 2020 and, per Commercial Observer, refinanced it in June 2025 with a $48.1 million bridge loan from Barings. A sale at $49 million is about $900,000 more than that loan, or roughly 102% of it, so the price suggests the bridge debt was being repaid at or near par rather than the owner cashing out a large gain. The same report says Wildflower sold a College Point warehouse to Terreno Realty for $92 million in February after buying it for $35 million, which shows how differently two airport-adjacent deals can pencil. The ACRIS deed names Prologis-Exchange NY 2000 LLC as the buyer; Commercial Observer ties that entity to Prologis.

The numbers

PLUTO lists a 63,800 square foot lot zoned M1-1 with a two-story building of 118,906 square feet, built in 2022. Commercial Observer reports 116,725 square feet, made up of 61,425 square feet of storage and a 55,300 square foot underground garage, and says the building opened in 2023. On the PLUTO figure the price is about $412 per building square foot and about $768 per land square foot. PLUTO shows a city assessed value of about $6.5 million, which is the tax-roll number and not a market value. Our ACRIS pull also shows the mortgage on this lot was assigned twice on June 1, ending with BAR 2026-FL1 Issuer LLC, which is consistent with the bridge loan being pooled after origination. Tenants named in the press report are Luxury Portable Toilet Rentals of New York and Dry as a Bone, a home inspection service.

What’s next

Watch for a satisfaction of the Barings-era mortgage in ACRIS, which would confirm the loan was paid off at closing, and for any new Prologis financing on the lot. Neither the seller’s 2020 purchase price nor the brokers on this deal were disclosed. For the wider market picture, see the New York market page.