Prologis $1.6B JV With GIC
Prologis launched a $1.6B joint venture with GIC focused on build‑to‑suit logistics facilities across major U.S. markets, doubling down on customized product to meet e‑commerce and fulfillment demand. The move underscores a tilt toward tenant‑driven development rather than speculative inventory. (x.com)
Prologis and GIC announced the joint venture on March 19, 2026, and seeded it with an initial portfolio of approximately 4.1 million square feet of build‑to‑suit projects. (prologis.com) The vehicle will operate inside Prologis Strategic Capital, with Prologis providing its development and operating platform while GIC supplies long‑term institutional capital. (prologis.com) Prologis reported it started $3.1 billion of development projects in 2025, and build‑to‑suit accounted for more than 60% of those starts. (prologis.com) Company statements emphasize that facilities tied to the JV will be purpose‑built to support automation, high throughput and proximity to end markets. (prologis.com) Prologis described build‑to‑suit projects as typically pre‑leased and mission‑critical for customers, with the JV structured to scale as those customer commitments are secured. (prologis.com) Prologis noted its global platform—about 1.3 billion square feet of properties and roughly $230 billion of assets under management—will be deployed to source and operate large single‑tenant logistics assignments for the JV. (prologis.com)
