Blackstone and its subsidiary Link Logistics are scooping up warehouses again after selling portions of its South Florida industrial portfolio for $1 billion-plus over the past two years.
New York-based Blackstone, led by Stephen Schwarzman, and subsidiary Link Logistics, led by Luke Petherbridge, bought a Broward warehouse complex for $163.1 million, South Florida Business Journal reported.
The four warehouses, spanning a combined 623,300 square feet, are at 2510 West Copans Road, as well as 1901, 2001 and 2004 Northwest 25th Avenue in Pompano Beach. Blackstone and Link paid roughly $262 per square foot.
CBRE represented the seller, Clarion Partners, which sold the industrial site for double what it paid a decade ago. New York-based Clarion, led by David Gilbert, acquired the 37.40-acre complex for $77.2 million in 2016, records show.
Completed between 2000 and 2002, the buildings’ tenant roster includes Lowe’s Home Centers, WorldPac, Stoneline Group and American Flooring Supplies.
The transaction marks Blackstone’s renewed investment in South Florida’s industrial market. Between 2024 and 2025, the firm sold off more than $1 billion worth of warehouses across Miami-Dade, Broward and Palm Beach counties as part of a broader portfolio sell-off.
Four of 2025’s top industrial deals involved Blackstone and Link as sellers, including the most expensive transaction: San Francisco-based Terreno Realty’s $130.7 million purchase of Blackstone’s Royal Palm Doral industrial portfolio in Miami-Dade. Last year, Blackstone and LInk also sold South Florida industrial sites to TA Realty, Ares Management and East Capital Partners.
A fourth-quarter report from Colliers pegged Broward’s industrial vacancy at 6.8 percent, up from 5.1 percent a year earlier, while average asking rents dipped marginally to $17.08 per square foot. Only about 506,000 square feet of warehouse space was under construction, less than 0.4 percent of the county’s total inventory — signaling that supply growth isn’t keeping up with demand.
— Francisco Alvarado