July 7, 2017
San Francisco-based Prologis, Inc. completed 20 build-to-suit development projects in the first half of 2017. The projects, ranging from a facility in Atlanta for Home Depot to a facility in Utrecht, Netherlands for DHL (pictured), totaled more than seven million square feet with a total expected investment of $430 million.
During the same period, the company also initiated 17 build-to-suit development starts representing more than seven million square feet at a total expected investment of $620 million. More than 75% of the new starts were signed with multi-site customers of Prologis, and more than 90% will be located in global markets.
“The strategic advantage of our land bank, combined with our extensive multi-site customer relationships, continued to drive strong activity in the first half of 2017,” said Prologis’ Michael S. Curless. “This activity represents 50% of our year-to-date build-to-suit development starts, a healthy mix at this point in the cycle.”
*Due to confidentiality, Prologis often does not disclose customer names at this stage of development.
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