Frito Lay cashes in chips, sells Queens warehouse to Prologis

Logistics giant pays $37.5M for Ridgewood property

TRD New York /
Jan.January 23, 2020 06:15 PM
Prologis CEO Hamid Moghadam and 18-51 Flushing Ave. (Credit: Google Maps, iStock)

Prologis CEO Hamid Moghadam and 18-51 Flushing Ave. (Credit: Google Maps, iStock)

How’s this for a tasty deal?

The Frito Lay company sold a Queens warehouse to logistics giant Prologis for $37.5 million, records filed with the city Thursday show.

The property at 18-51 Flushing Avenue is home to a warehouse and parking lot for Lay’s trucks.

Representatives for Frito Lay and Prologis were not immediately available to comment.

Prologis recently inked a deal to buy a large warehouse in Sunset Park for $60 million. The building will soon be home to the nonprofit City Harvest.

The market for warehouse sales has been hot thanks to a push from internet retailers — notably Amazon — to deliver items faster than ever. Industrial buildings and sites that can aid in last-mile delivery or serve as distribution centers saw brisk sales last year. Prologis’ plans for the Flushing Avenue address could not be determined.


Related Articles

arrow_forward_ios
HelloFresh’s NYC HQ (Courtesy of Industry City, HelloFresh by Eric Laignel)

HelloFresh inks Industry City deal for content studio

HelloFresh inks Industry City deal for content studio
Amazon CEO Jeff Bezos (Getty)

Amazon to open 100 more distribution centers this month

Amazon to open 100 more distribution centers this month
Traub Capital's Brian Crosby and 27-11 49th Avenue in Long Island City (Images via Traub and Google Maps)

Traub Capital pays $75M for LIC cosmetics plant

Traub Capital pays $75M for LIC cosmetics plant
Andrew Joblon and 980 East 149th Street (Turnbridge)

Turnbridge Equities scores $105M loan, new partner for Bronx logistics site

Turnbridge Equities scores $105M loan, new partner for Bronx logistics site
(iStock)

Retail adds nearly 250K jobs in August

Retail adds nearly 250K jobs in August
Industrial REITs have been an outlier in 2020, returning nearly 27 percent (iStock)

As stocks rally, real estate investors try to pick winners

As stocks rally, real estate investors try to pick winners
Clockwise from the top: Dov Hertz and Sunset Industrial Park at 75-81 20th Street in Brooklyn; 155 West 29th Street and 1640 Flatbush Avenue in Brooklyn (Credit: Google Maps; 1640 Flatbush via S9 Architecture)

Worst month of the year for big construction filings

Worst month of the year for big construction filings
Hamid Moghadam (iStock)

Prologis CEO: Capital is not an issue, it’s finding properties

Prologis CEO: Capital is not an issue, it’s finding properties
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...