Prologis, main Amazon warehouse landlord, to purchase Duke Realty for $26 billion

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Signage outdoors a Prologis warehouse occupied by Kuehne + Nagel in Redlands, California, U.S., on Sunday, Nov. 7, 2021. Fallout from the worldwide supply-chain disaster is clogging U.S. ports, pushing warehouses to capability and forcing logistics managers to scramble for house.

Roger Kisby | Bloomberg | Getty Photographs

Warehouse big Prologis stated Monday that it’ll purchase its smaller rival Duke Realty in an all-stock deal valued at about $26 billion, together with debt.

Each firms’ boards of administrators have unanimously authorised the transaction, a press launch stated.

Prologis controls roughly 1 billion sq. ft of warehouses and distribution facilities utilized by firms together with Amazon, Home Depot and FedEx. Whereas Duke Realty owns and operates about 160 million sq. ft of commercial actual property in 19 main U.S. logistics markets.

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