Prologis Expands Logistics Property Portfolio with $3.1B Deal

Prologis, a global leader in industrial real estate, is set to acquire nearly 14 million square feet of logistics property from Blackstone for $3.1 billion. This acquisition, consisting of around 70 sites across key US markets, further bolsters Prologis's position as the world's largest industrial property company and enhances its significant influence in the logistics sector.

This transaction underscores the booming demand for industrial space driven by the rise of e-commerce and the subsequent evolution of supply chains. Most of the properties being acquired are strategically located in or near cities, facilitating proximity to consumers. This deal not only expands Prologis' presence in pivotal markets such as Atlanta, Dallas, and New York but also broadens its relationships with 50 existing customers and introduces 77 new ones.

Source: WSJ