Prologis, Inc.

Prologis, Inc. is a U.S.-based real estate investment trust focused on logistics real estate, including warehouses, distribution centers, and development projects. Its portfolio spans major commercial hubs across North America, Europe, and Asia, and it also manages co-investment ventures tied to logistics properties and related services.

79,5 %

37,9 %

+7,2 %

— Prologis, Inc.
%
Rental Operations85% Leased logistics properties, including warehouses, distribution centers, and infill facilities.
Development and Acquisitions7% Ground-up development, redevelopment, and property acquisition/disposition activity.
Strategic Capital8% Asset management, property management, and related services for co-investment ventures.

Prologis serves logistics users that need strategically located space to store, sort, and move goods through supply...

  • Logistics operating customersprimary

    Tenants leasing warehouses and distribution space to store and move goods efficiently.

  • E-commerce fulfillment usersprimary

    Customers needing infill and Last Touch® facilities for fast delivery and dense market coverage.

  • National and regional distributorsprimary

    Operators using import, intermodal, and regional distribution centers for network coverage.

  • Institutional co-investment partnerssecondary

    Investors in joint ventures and public vehicles that buy exposure to logistics real estate and services.

Prologis operates in 20 countries across four continents, with a portfolio concentrated in major commerce hubs near end...

  • •Operations span 20 countries across four continents
  • •Headquarters in San Francisco, with offices in Amsterdam, Denver, Mexico City, São Paulo, Shanghai, Singapore, and Tokyo
  • •Portfolio is concentrated in major commerce hubs and near consumer markets
  • •Strategic capital revenue is generated mainly outside the U.S.
  • •Foreign-currency exposure is managed partly through co-investment ventures and local borrowing

Prologis focuses on owning, developing, and managing logistics real estate in high-barrier markets where supply is...

01
Expand logistics real estate footprint in high-barrier marketsmedium-term

Concentrated assets near consumers support pricing power and customer retention.

02
Grow Prologis Essentials and adjacent servicesmedium-term

Services deepen customer relationships and add revenue beyond base rent.

03
Scale strategic capital and co-investment venturesmedium-term

Third-party capital expands fee-based earnings and asset management reach.

04
Use technology and venture investing to stay relevant to logistics changelong-term

Digital tools and emerging technologies can improve operating efficiency and customer stickiness.

Prologis is exposed to cyclical logistics demand, new supply, and tenant decision delays, all of which can affect...

critical

REIT qualification risk

Failure to satisfy REIT income, asset, or distribution tests would materially alter tax treatment.

Scope
Corporate structure
Materiality
high
high

Supply-demand imbalance in logistics real estate

New warehouse supply or weaker tenant demand can reduce occupancy and rent growth.

Scope
Core rental portfolio
Materiality
high
high

Global currency and regulatory exposure

Operations outside the U.S. create translation, repatriation, and compliance risk.

Scope
International portfolio and strategic capital ventures
Materiality
high
medium

Co-investment venture and sponsor risk

Joint ventures and public vehicles depend on continued influence, partner alignment, and market conditions.

Scope
Strategic Capital segment
Materiality
medium
medium

Environmental and asset impairment risk

Property values can be affected by environmental issues, obsolescence, or changes in hold intent.

Scope
Owned and developed real estate
Materiality
medium
Lease accounting and straight-line rent
Affects revenue recognition and comparability across periods
Real estate impairment and recoverability
Can create material impairment charges on properties held for sale or underperforming assets
Strategic capital fee and promote recognition
Can cause uneven revenue recognition across quarters
Capitalized development and internal costs
Affects expense timing and asset carrying values

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: 11/08/2026