Prologis – 'Water is building behind the dam'
…when will it break?
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Cooling demand has ended the long run of increasing warehousing costs and nudged the average US vacancy rate above the 5% mark.
And this trend is expected to continue – but without triggering a significant drop in rents.
Warehousing real estate investment trust Prologis has shifted into reverse; citing lower occupancy, it lowered the mid-point for average occupancy of its facilities this year by 75 basis points, to a range of 95.75% to 96.75%.
Its large customers, like UPS and FedEx, have seen ...
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