Blackstone negotiating to buy 11 warehouses in Queens
Real Estate - AUGUST 6, 2019

Blackstone negotiating to buy 11 warehouses in Queens

by Andrea Zander

Blackstone Group is in talks to buy 11 warehouses near John F. Kennedy International Airport in Queens, N.Y., reported Crain’s New York Business.

The seller is TA Realty, and it is part of a wider deal with TA Realty for industrial buildings across the country. The value of the deal has not been reported.

Globally, Blackstone has been active in the warehouse sector. In July, the firm announced plans to invest $926 million in a portfolio of distribution centers in Japan. And in June, Blackstone announced plans to contribute $6.8 billion of its smaller European warehouse investments to launch a new company.

Blackstone’s biggest industrial sector headline this year is its acquisition of industrial assets from three of GLP’s U.S. funds for a purchase price of $18.7 billion.

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