Annual market rents on logistics real estate fell in 2024 for the first time since the 2007-2009 global financial crisis, according to a Tuesday report from warehouse operator Prologis. The company’s outlook for 2025, however, calls for a modest recovery.
Prologis’ (NYSE: PLD) annual rent index showed global rents were off 5% in 2024 – the combination of a 7% drop in the U.S. and Canada, with just a 1% dip in Europe. The biggest deterioration was seen in Southern California, a market that saw...