Prologis acquired the portfolio when it purchased Duke Realty in 2022.
The country's 2023 industrial vacancy rate popped above 5% for the first time in three years.
The industrial giant is targeting future energy demand as part of an $8B effort to become a top builder of data centers.
Prologis has acquired a logistics site at Park Royal from DTZ Investors and said mixed-use development could boost density at the location.
A post-election bump drove Prologis to set a company record with more than 60M SF of leases signed in Q4.
Prologis could invest up to $25B in data centre development in the coming years. And that's not all.
Prologis posted total revenue of more than $2B and 46M SF of leasing activity despite what executives described as a stubbornly soft industrial market.
Hamid Moghadam, who co-founded Prologis in 1983, will hand over the reins of the company to Dan Letter, effective Jan. 1, 2026.
Prologis, one of the largest industrial REITs, may not be immune to the headwinds facing the industry.
Prologis and partner Skybox Datacenters are converting the former warehouse in Elk Grove Village to a fully commissioned turnkey data center.
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