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Strong demand and a lack of supply should buoy the company's performance headed into 2023 despite a potential recession, executives said on a Q3 earnings call.
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The industrial property giant saw rents and occupancies increase further in the first quarter.
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AI software will help the industrial giant in picking future development sites.
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Rents ballooned for the industrial giant, but some slowing in the market is expected.
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Prologis will buy 70 industrial properties in an all-cash deal with Blackstone.
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REIT Prologis announced a $500M infusion in capital commitments for 2 major funds to further invest in global industrial assets.
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The company still beat analysts' expectations for revenue in Q1.
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Two more projects in Houston and Grand Prairie will come online later this year.
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Slower demand and a busy development pipeline have cooled the industrial market nationwide.
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Prologis said on its Q2 earnings call that it now plans to spend between $1B and $1.5B on acquisitions this year, up 67% from previous projections.
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