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Prologis Completes 17 BTS’s Totaling 4.4M SF Second Half of 2018
San Francisco-based Prologis, Inc. completed 17 build-to-suit projects in the second half of 2018 totaling more than 4.4 million square feet, with a total expected investment (TEI) of roughly $400 million on a Prologis share basis. The activity brings Prologis’ total BTS completions for the full year to 35, encompassing 12.4 million square feet, with a TEI of roughly $1 billion.
Prologis’ Michael Curless says, “In 2018, build-to-suit activity remained strong across Prologis’ global platform. Our development-ready land bank is located near large population centers and continues to be a major contributor to our build-to-suit success. These global market locations also provide exceptional optionality for our customers’ Last Touch requirements.”
During H2, the industrial REIT started 15 build-to-suit projects comprising 6.9 million square feet and $525 million TEI. That brought the company’s total BTS starts for the full year to 29, totaling 11.6 million square feet, and a roughly $975 million TEI.
*Pictured Senko Co. Ltd. facility Sendai Japan
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