Management from logistics real estate investment trust Prologis Inc. (NYSE: PLD) on Monday raised the company’s 2021 rent growth forecast by 40 basis points to 10.3% in the U.S and by 300 bps to 8% globally.
Rents in the U.S. were up nearly 7% in the first half of the year, which was a record.
“There’s an ability to push through pricing today,” Hamid Moghadam, chairman and CEO, said on a call with analysts. “You have retail sales jump 20% from pre-pandemic levels and a supply chain that’s drying...
https://www.freightwaves.com/news/prologis-sees-record-rent-growth-for-logistics-space