What's Happening Next in Industrial? Explore 4Q 2020 earnings sound bites from Prologis (PLD).
Prologis 4Q Soundbites – 01/26/21
“Amazon build-to-suits were very active in 2020, with 6 occurring in 4Q and 10 for the full year out of 28.”
“4Q US net absorption was the highest on record at 100 MSF and in excess of 90 MSF of new supply.”
“Rents in our markets grew 3.2%, with all the growth coming in 2H20. We anticipate 5% rent growth in 2021.”
"US e-commerce penetration jumped 480 bps to 20%. Reports suggest e-commerce holiday sales grew 30%+."
“We expect e-commerce penetration to pause in late 2021 as consumers shift spending to services and experiences.”
“We expect $2.3 to $2.7 bn in new development starts in 2021, with 45% BTS.”
“Retooling supply chains for more e-fulfillment should generate 200+ MSF of demand over the next several years.”
“For strategic capital, we raised $3.1 bn in 2020, with 40% from new investors we have yet to meet in person. Property tours and due diligence was all conducted virtually.”
“After almost a decade of straight-line up, the Bay Area has gotten hit hard. It's softer than LA in a big way.”
“Labor constraints exist everywhere. I thought it would have moderated given the downturn and unemployment rate.”
