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