Logistics warehouse operator Prologis announced Wednesday that co-founder and longtime leader Hamid Moghadam will be retiring. Prologis President Dan Letter will succeed Moghadam as CEO on Jan. 1.
Moghadam will continue to serve as executive chairman.
Letter joined San Francisco-based Prologis (NYSE: PLD) in 2004 and has served as the real estate investment trust’s president since January...
https://www.freightwaves.com/news/prologis-ceo-hamid-moghadam-announces-retirement
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...
Logistics real estate investment trust Prologis beat fourth-quarter expectations Tuesday, posting core funds from operations (FFO) of $1.50 per share. The result was 11 cents ahead of the consensus estimate and included the sale of a data center.
Average occupancy across the San Francisco-based company’s portfolio was 95.6%, 150 basis points lower year over year but just 30 bps lower than the third quarter in what is expected to be a shallow downturn for the industry. Net effective rent change...
https://www.freightwaves.com/news/prologis-q4-earnings-first-look
Logistics real estate landlord Prologis said the current downturn in warehouse leasing demand will likely extend into the middle of next year as vacancies have likely not yet peaked. Management from the company noted on a third-quarter call Wednesday “a measured level of optimism” and that “customers are very engaged, but they’re just not making decisions.”
San Francisco-based Prologis (NYSE: PLD) reported core funds from operations (FFO) of $1.43 per share, 5 cents higher than the consensus...
Logistics real estate investment trust Prologis beat third-quarter expectations Wednesday, reporting core funds from operations (FFO) of $1.43 per share, 5 cents higher than the consensus estimate. Revenue increased 6% to more than $2 billion even as some key metrics slid in the period.
Prologis (NYSE: PLD) saw occupancy across its portfolio slip 120 basis points year over year (down 20 bps from the second quarter) to 95.9%. Net effective rent change over the entire lease term fell more than 16%...
https://www.freightwaves.com/news/prologis-q3-first-look-better-than-expected
Logistics real estate operator Prologis Inc. announced its affiliate Fibra Prologis has acquired a majority stake in Mexican real estate investment trust Fibra Terrafina. The company now has a 77.14% stake in Fibra Terrafina, which is listed on Mexico’s primary stock exchange with a $1.5 billion market capitalization.
Fibra Terrafina (TERRA13.MX) manages 42.2 million square feet of space – 288 warehouses and four land bank properties – in Mexico.
“This investment comes at a unique moment for...
https://www.freightwaves.com/news/prologis-acquires-ownership-stake-in-mexican-reit-fibra-terrafina
This story has been updated.
Temperature-controlled logistics real estate investment trust Lineage Inc. said nearly 57 million shares of its common stock were priced at $78 per share ahead of its initial public offering on Thursday. The deal will haul in roughly $4.4 billion in proceeds, better than the $3.4 billion to $3.9 billion range previously expected.
A 30-day option for a 15% allotment (a little more than 8.5 million shares) has been granted to underwriters. The company said it will use...
https://www.freightwaves.com/news/cold-storage-reit-lineage-ipo-hauls-in-4-4b
Logistics real estate investment trust Prologis said fewer development starts, a shrinking construction pipeline and “subdued” but “improving” demand will keep industry vacancies from stepping materially higher.
Prologis (NYSE: PLD) reported core funds from operations (FFO) of $1.34 per share on Wednesday, which was 1 cent better than the consensus estimate but 49 cents lower year over year.
Management from the company told analysts on a Wednesday call that an increase in container volumes at the...
https://www.freightwaves.com/news/prologis-sees-improving-logistics-real-estate-market-in-2025
Logistics warehouse operator Prologis beat second-quarter estimates Wednesday, reporting core funds from operations (FFO) of $1.34 per share, which was 1 cent ahead of the consensus expectation. The company said demand is improving in what it categorized as an “uncertain macroeconomic environment.”
Rental revenue increased 12% year over year to $1.85 billion while consolidated revenue fell 18% year over year to $2 billion. The decline in consolidated revenue was attributable to an 80% drop in...
Logistics real estate operator Link Logistics signed 696 new and renewing leases in the first quarter, representing 17.8 million square feet of space. In the fourth quarter, it inked deals covering 23.4 million square feet.
Link Logistics’ portfolio was 94.6% leased in the first quarter, which was 160 basis points lower than in the fourth. Blended cash leasing spreads — a comparison of new rents to expiring rents — were 44.4%, which was 1,120 bps lower sequentially.
“We entered 2024 with...
https://www.freightwaves.com/news/e-commerce-onshoring-drive-q1-demand-for-link-logistics