CBRE Investment Management has acquired two Amazon-operated warehouses in Brooklyn from Wildflower for $230 million, Commercial Observer has learned.
The adjacent properties located at 12555 Flatlands Avenue and 12595 Flatlands Avenue in the East New York neighborhood sold in an all-cash deal in early April. CBRE ’s Doug Middleton and Brian Fiumara represented the buyer and seller in the off-market transaction.
Manhattan-based CBRE Investment Management is an independently operated affiliate of CBRE, the largest commercial real estate services firm and brokerage in the U.S.
Amazon signed a long-term, 211,000 square-foot lease at the site, known as Brooklyn Logistics Center, in November 2020. Wildflower purchased the two neighboring warehouses for $23.5 million in 2019, according to property records. The warehouse at 11255 Flatlands is formerly a PepsiCo distribution center.
Representatives for CBRE Investment Management, CBRE Group and Amazon did not immediately return requests for comment. Wildflower declined to comment.
Wildflower is Amazon’s most active e-commerce warehouse and parking developer in New York City. The developer is in the midst of selling off its self-storage portfolio to narrow its focus on the e-commerce and film studio sectors.