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Prologis pays $49M for undeveloped industrial land in California

Industrial real estate investment trust Prologis Inc. purchased 31.2 acres of undeveloped industrial land in Torrance, Calif., from PBF Energy Inc. for $49.3 million, the Los Angeles Business Journal reported, citing CoStar Group Inc.

Lee & Associates brokered the August sale.

The publication could not retrieve a comment from Prologis and PBF Energy representatives regarding the matter.