Prologis Acquires Milpitas Manufacturing Facility for $84.5MM
In a transaction that closed late last year, one of the world’s largest owners, operators and developers of industrial real estate, Prologis, made an acquisition of a 9-building, nearly 500,000 square foot complex in Milpitas for $84.5 million, or roughly $170 per square foot, according to public records.
The property was sold by San Diego-based Westcore Properties, which has owned the asset since 2007. The collection of nine buildings is a mixture of manufacturing and light industrial space. The asset is located at 637, 677 and 727 Gibraltar Court and 777, 847, 927, 1077 and 1177 Gibraltar Drive.