Prologis had a strong 2024, with things improving significantly after the presidential election.
“In our business, the bottoming process across our markets continues to progress,” said chief financial officer Timothy Arndt in a 2024 Q4 earnings call on Tuesday. “Leasing in our portfolio accelerated following the U.S. election, and the pipeline has started the year at healthy levels.” Prologis signed over 60 million square feet of leases during the quarter, a company record. Interest diversified across customer profiles, size requirements, and markets.
“Looking ahead, we believe market vacancy is topping out and rents will inflect later this year,” Arndt added.
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