Prologis and GIC have formed a $1.6 billion joint venture to develop and own build-to-suit logistics facilities across major U.S. markets. The new venture includes $1.6 billion in combined capital commitments, including an initial portfolio of approximately 4.1 million square feet with additional capacity for future investments.
“Build-to-suit activity continues to be one of the clearest signals of customer conviction across our business,” says Daniel Letter, CEO of Prologis. “This joint venture with GIC builds on that momentum by pairing our platform and development expertise with a partner that shares our long-term perspective.”
The venture will operate within Prologis Strategic Capital. It is designed to scale with demand as customer commitments are secured.
“With strong ecommerce growth, the reshoring of supply chains and resilient consumer spending, industrial remains a strong long-term investment theme in North America,” says Goh Chin Kiong, CI
