Interra Realty, which brokered the transaction, reports the 150 Fullerton property sold for approximately $10.6 million, which registered at $425,400 per unit.

The project at 100 Ridge Road was a former Union Carbide operated site for nearly 80 years and employed thousands of employees at its pinnacle.

Year-over-year average rents jumped 5% to $41.11-per-square-foot. Buildings with the largest rent hikes include 800 Brickell, which went from $42-per-square-foot to $47-per-square-foot during the same period.

Prologis chairman/CEO Hamid Moghadam says markets remain healthy, driven by customers who are prioritizing proximity to consumers to offset supply chain costs such as labor and transportation.