Prologis Revises Rent Growth Forecast to 22% Amid Historic Demand, Vacancy
April 25, 2022 – Industrial giant Prologis is running out of space to rent, as vacancy remains at historic lows for the overall sector and rents continue to climb. That’s led the company to revise its annual rent growth estimates up 11% from last quarter.
Prologis ended Q1 with 97.4% occupancy, a figure that was consistent with Q4 2021 and counters the typical Q1 decline. Cap rates will likely hold due to large market-to-market increases from quarter to quarter, CEO Hamid Moghadam said. See full GlobeSt story here.