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.
The industrial property giant saw rents and occupancies increase further in the first quarter.
AI software will help the industrial giant in picking future development sites.
Rents ballooned for the industrial giant, but some slowing in the market is expected.
Prologis will buy 70 industrial properties in an all-cash deal with Blackstone.
REIT Prologis announced a $500M infusion in capital commitments for 2 major funds to further invest in global industrial assets.
The company still beat analysts' expectations for revenue in Q1.
Two more projects in Houston and Grand Prairie will come online later this year.
Slower demand and a busy development pipeline have cooled the industrial market nationwide.
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.
We're not asking for your money. This is not a step towards a paywall. Our news is free and we intend to keep it that way.