logistics real estate

Prologis sees market tightening again once interest rate cuts begin

Management from logistics real estate investment trust Prologis said Wednesday that uncertainty around the timing of interest rate cuts has slowed leasing demand in the near term but that its favorable longer-term outlook remains unchanged.

Prologis (NYSE: PLD) reported first-quarter core funds from operations (FFO) of $1.28 per share, in line with the consensus estimate. However, it lowered its full-year guidance by 1% to a new range of $5.37 to $5.47 compared to analysts’ expectations of $5.50...

https://www.freightwaves.com/news/prologis-sees-market-tightening-again-once-interest-rate-cuts-begin

Prologis sees occupancy dipping through Q2 before sustained rebound

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Logistics facility owner Prologis provided a positive outlook for 2024 on Wednesday but noted that...

https://www.freightwaves.com/news/prologis-sees-occupancy-dipping-through-q2-before-sustained-rebound

Prologis’ Q4 results in line with analysts’ expectations

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Logistics real estate operator Prologis reported fourth-quarter results that were in line with...

https://www.freightwaves.com/news/prologis-q4-results-in-line-with-analyst-expectations

Prologis sees demand uncertainty, posts Q3 beat

Logistics real estate investment trust Prologis pointed to geopolitical unrest and rising interest rates as factors weighing on customer decisions around investment in warehousing space.

Prologis (NYSE: PLD) beat third-quarter expectations Tuesday, posting core funds from operations (FFO) of $1.30, which was 5 cents ahead of the consensus estimate but 43 cents lower year over year (y/y).

The company expects project completions to outpace net absorptions by 150 million to 250 million square feet...

https://www.freightwaves.com/news/prologis-sees-demand-uncertainty-posts-q3-beat

Prologis beats Q3 expectations

Logistics real estate operator Prologis beat third-quarter estimates Tuesday before the market opened but noted softened demand.

The San Francisco-based company reported core funds from operations (FFO) of $1.30, 5 cents ahead of analysts’ expectations but 43 cents lower year over year (y/y).

“Our results reflect strong execution by our team and the quality of our global portfolio,” said co-founder and CEO Hamid Moghadam. “That said, until there is more stability in the economy, negative customer...

https://www.freightwaves.com/news/prologis-beats-q3-expectations

Link Logistics sees rent renewals jump in Q2

Last-mile logistics real estate operator Link Logistics said Monday fundamentals continued to stay strong across its portfolio during the second quarter.

The company signed 418 leases in the period representing 13.3 million square feet of space. Its portfolio was 96.4% leased on a same-store comparison, which was 160 basis points lower year over year.

However, blended cash leasing spreads — a comparison of new rents to expiring rents — were 52% and much higher than the level booked in the...

https://www.freightwaves.com/news/link-logistics-sees-rent-renewals-jump-in-q2

Link Logistics Q4 update highlights strong final-mile real estate demand

Logistics real estate provider Link Logistics said Monday demand for final-mile space remains strong.

In a fourth-quarter 2022 update, the owner of the largest U.S.-only portfolio of logistics properties said it executed leases representing 18.5 million square feet of space during the period (78.5 million square feet during full-year 2022). Link’s portfolio was 97.3% leased on a same-store comparison, which was 40 basis points lower year over year (y/y).

“Demand for high-quality, well-located...

JLL, Quiet Platforms pioneer flexible rent model, scale fulfillment network

In the first half of 2022, heightened e-commerce demand and limited warehouse supply were the prevailing trends.

Then, in October, Prologis further validated that narrative, reporting that occupancy tightened, more leases commenced, and utilization of space was at the 95th percentile historically during the third quarter. Currently, nationwide industrial vacancy rates are sitting at all-time lows.

All of that activity means tenants have been forced to pay more for space. As of October, Prologis...

https://www.freightwaves.com/news/jll-quiet-platforms-pioneer-flexible-rent-model-scale-fulfillment-network

Prologis’ $26B acquisition of Duke Realty approved by shareholders

Hub Group container at a Prologis facility

Prologis announced Wednesday after the market closed that shareholders approved the proposed $26 billion all-stock acquisition of Duke Realty. In separate votes both held Wednesday, 87% of Prologis shareholders and 85% of Duke Realty shareholders agreed to the terms of the merger.

“Upon consummation of the merger, Duke Realty shareholders will receive 0.475 of a newly-issued share of Prologis common stock for each share of Duke Realty common stock they own immediately prior to the effective time...

https://www.freightwaves.com/news/prologis-26b-acquisition-of-duke-realty-approved-by-shareholders

Spanish billionaire just bet big on US logistics

logistics industrial real estate

U.S. logistics just got its next big investor from abroad.

Spanish billionaire textile tycoon Amancio Ortega, the founder of clothing brands Inditex and Zara, revealed on Tuesday that his family investment company Pontegadea had purchased five logistics warehouses in the U.S. totaling about $722 million, Bloomberg reported. 

Spanish newspaper El Pais reported that the properties are strategically located in five states — Tennessee, South Carolina, Virginia, Pennsylvania and Texas — and rented...

https://www.freightwaves.com/news/spanish-billionaire-just-bet-big-on-us-logistics

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