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Prologis (PLD) Acquires Warehouse in Rainier Valley for $65M
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Prologis Inc. (PLD - Free Report) has reportedly purchased a Pepsi bottling plant in Rainier Valley for $65 million, according to King County property records. The property, spanning 10 acres, is situated near the Mount Baker light rail station.
Per records, Bayview Walker LLC — a Prologis-affiliated company — purchased the warehouse at 2300 26th Ave. S. from PepsiCo affiliate Bottling Group LLC. Nevertheless, PepsiCo is still operating the bottling plant.
This industrial real estate investment trust (REIT) is significantly adding warehouse and industrial assets to its portfolio in a bid to expand the company’s presence, and develop important distribution and delivery hubs in key urban locations, to reduce last-mile cost for retailers.
Amid recovering economy and healthy job-market environment, e-commerce retailers have been gaining from higher consumer spending. Further, the rising popularity of e-retail has compelled companies to optimize their supply chains and hold greater amounts of inventory on hand. This is spurring demand for distribution and warehousing facilities.
Moreover, to support same-day delivery services, distribution capabilities in urban neighborhoods are in high demand. Also, last-mile properties are gaining traction and witnessing encouraging appreciation in their asset values to route these boxes. This will significantly drive performance of REITs in the industrial asset category, including companies like Prologis, Liberty Property Trust , Duke Realty Corp. and Terreno Realty Corporation (TRNO - Free Report) .
Hence, for Prologis, focus to fortify its industrial portfolio bodes well. In fact, over the past five years, the company has shelled more than $370 million for 12 properties.
In addition to the above, in August, it closed the acquisition of DCT Industrial Trust Inc., adding 71 million square feet area to its operating portfolio. This also enables Prologis to fortify its foothold in major high-growth markets of Southern California, the San Francisco Bay Area, Seattle and South Florida.
Nevertheless, any protectionist trade policies will have an adverse impact on economic growth, as well as this asset category’s business over the long run. Additionally, a whole lot of new buildings will likely be made available in the market in the near term, leading to lesser scope for rent growth.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
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Prologis (PLD) Acquires Warehouse in Rainier Valley for $65M
Prologis Inc. (PLD - Free Report) has reportedly purchased a Pepsi bottling plant in Rainier Valley for $65 million, according to King County property records. The property, spanning 10 acres, is situated near the Mount Baker light rail station.
Per records, Bayview Walker LLC — a Prologis-affiliated company — purchased the warehouse at 2300 26th Ave. S. from PepsiCo affiliate Bottling Group LLC. Nevertheless, PepsiCo is still operating the bottling plant.
This industrial real estate investment trust (REIT) is significantly adding warehouse and industrial assets to its portfolio in a bid to expand the company’s presence, and develop important distribution and delivery hubs in key urban locations, to reduce last-mile cost for retailers.
Amid recovering economy and healthy job-market environment, e-commerce retailers have been gaining from higher consumer spending. Further, the rising popularity of e-retail has compelled companies to optimize their supply chains and hold greater amounts of inventory on hand. This is spurring demand for distribution and warehousing facilities.
Moreover, to support same-day delivery services, distribution capabilities in urban neighborhoods are in high demand. Also, last-mile properties are gaining traction and witnessing encouraging appreciation in their asset values to route these boxes. This will significantly drive performance of REITs in the industrial asset category, including companies like Prologis, Liberty Property Trust , Duke Realty Corp. and Terreno Realty Corporation (TRNO - Free Report) .
Hence, for Prologis, focus to fortify its industrial portfolio bodes well. In fact, over the past five years, the company has shelled more than $370 million for 12 properties.
Prologis currently has a Zacks Rank #3 (Hold). The company’s shares have appreciated 3.3% in a month’s time compared with its industry’s growth of 1.2%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In addition to the above, in August, it closed the acquisition of DCT Industrial Trust Inc., adding 71 million square feet area to its operating portfolio. This also enables Prologis to fortify its foothold in major high-growth markets of Southern California, the San Francisco Bay Area, Seattle and South Florida.
Nevertheless, any protectionist trade policies will have an adverse impact on economic growth, as well as this asset category’s business over the long run. Additionally, a whole lot of new buildings will likely be made available in the market in the near term, leading to lesser scope for rent growth.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>