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Prologis & GIC Establishes $1.6B U.S. Build-to-Suit Logistics Joint Venture
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Key Takeaways
Prologis and GIC form a $1.6B JV to develop U.S. build-to-suit logistics facilities.
Initial portfolio spans 4.1M sq. ft., with added capacity for future investments as demand grows.
Prologis started more than 60% worth of development projects being build-to-suit in 2025.
Prologis, Inc. (PLD - Free Report) and GIC, a leading global institutional investor, announced the formation of a joint venture (JV) to focus on developing and owning build-to-suit logistics facilities in key U.S. markets.
The JV includes $1.6 billion in combined capital commitments, encompassing an initial portfolio of about 4.1 million square feet with additional capacity for future investments.
This new venture combines Prologis' development and operating platform with long-term institutional capital and will operate under Prologis Strategic Capital, the company's asset management business. It is designed to scale with demand as customer commitments are secured.
Per Daniel S. Letter, CEO of Prologis, "Build-to-suit activity continues to be one of the clearest signals of customer conviction across our business. 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."
As customers make long-term commitments to distribution networks and operations, build-to-suit development has become a larger share of Prologis' pipeline. In 2025, the company started $3.1 billion worth of development projects, more than 60% of which were build-to-suit.
The JV strengthens Prologis Strategic Capital as a key growth platform, enabling Prologis to invest alongside institutional partners while applying its expertise in development, operations, and customer relationships to every deal.
In the past three months, shares of this Zacks Rank #3 (Hold) company have increased 2.5% compared with the industry’s rise 4.4%.
The Zacks Consensus Estimate for LAND’s 2026 FFO per share is pinned at 43 cents. This indicates year-over-year growth of 10.3% for 2026.
The Zacks Consensus Estimate for PDM’s 2026 FFO per share is pegged at $1.49. This implies year-over-year growth of 5.7% for 2026.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
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Prologis & GIC Establishes $1.6B U.S. Build-to-Suit Logistics Joint Venture
Key Takeaways
Prologis, Inc. (PLD - Free Report) and GIC, a leading global institutional investor, announced the formation of a joint venture (JV) to focus on developing and owning build-to-suit logistics facilities in key U.S. markets.
The JV includes $1.6 billion in combined capital commitments, encompassing an initial portfolio of about 4.1 million square feet with additional capacity for future investments.
This new venture combines Prologis' development and operating platform with long-term institutional capital and will operate under Prologis Strategic Capital, the company's asset management business. It is designed to scale with demand as customer commitments are secured.
Per Daniel S. Letter, CEO of Prologis, "Build-to-suit activity continues to be one of the clearest signals of customer conviction across our business. 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."
As customers make long-term commitments to distribution networks and operations, build-to-suit development has become a larger share of Prologis' pipeline. In 2025, the company started $3.1 billion worth of development projects, more than 60% of which were build-to-suit.
The JV strengthens Prologis Strategic Capital as a key growth platform, enabling Prologis to invest alongside institutional partners while applying its expertise in development, operations, and customer relationships to every deal.
In the past three months, shares of this Zacks Rank #3 (Hold) company have increased 2.5% compared with the industry’s rise 4.4%.
Image Source: Zacks Investment Research
Stocks to Consider
Some better-ranked stocks from the broader REIT sector are Gladstone Land (LAND - Free Report) and Piedmont Realty Trust, Inc. (PDM - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for LAND’s 2026 FFO per share is pinned at 43 cents. This indicates year-over-year growth of 10.3% for 2026.
The Zacks Consensus Estimate for PDM’s 2026 FFO per share is pegged at $1.49. This implies year-over-year growth of 5.7% for 2026.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.