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.


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