Prologis Research: United States Industrial Market Signals Strength, Expansion

Prologis Research: United States Industrial Market Signals Strength, Expansion

"The Shape of the U.S. Industrial Recovery" Report Indicates Pent up Demand,
Rent Growth as Key Drivers

PR Newswire

SAN FRANCISCO, March 21, 2013

SAN FRANCISCO, March 21, 2013 /PRNewswire/ --Prologis, Inc. (NYSE: PLD), the
leading global owner, operator and developer of industrial real estate, today
published an in-depth analysis of the United States industrial real estate
market in a paper titled "The Shape of the U.S. Industrial Recovery."

In the report, the company's research team points to a strengthening of the
industrial market with the recovery transitioning into expansion. They believe
this is driven by three key factors:

  oEffective rents expected to rise 25% over next four years;
  oPent up demand: Exhibited by strong net absorption in the fourth quarter
    and high readings from Prologis' proprietary Industrial Business Index
    survey of customer activity levels; and
  oBroadening leasing velocity: Market tightness is supporting rent growth in
    more asset types, in more markets and in more locations in those markets

"The U.S. industrial cycle is clearly building on positive momentum and
showing signs of expansion," said Chris Caton, vice president and head,
Prologis Research. "New construction starts remain low, demand is increasing,
and the housing market and e-commerce are playing an increasingly larger role.
We expect a broader uplift in the U.S. industrial property markets to occur
for a period of time, and long-term outperformance particularly in infill
locations in U.S. global markets."

The complete report is available online only at www.prologisresearch.com.

Prologis Research monitors, analyzes and reports on key trends and dynamics in
both real estate and supply chain management to provide customers, investors
and the general public with insight from a global and large-scale perspective.

About Prologis
Prologis, Inc. is the leading owner, operator and developer of industrial real
estate, focused on global and regional markets across the Americas, Europe and
Asia. As of Dec. 31, 2012, Prologis owned or had investments in, on a
consolidated basis or through unconsolidated joint ventures, properties and
development projects expected to total approximately 554 million square feet
(51.5 million square meters) in 21 countries. The company leases modern
distribution facilities to more than 4,500 customers, including manufacturers,
retailers, transportation companies, third-party logistics providers and other
enterprises.

The statements in this release that are not historical facts are
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. These forward-looking statements are based on current
expectations, estimates and projections about the industry and markets in
which Prologis operates, management's beliefs and assumptions made by
management. Such statements involve uncertainties that could significantly
impact Prologis' financial results. Words such as "expects," "anticipates,"
"intends," "plans," "believes," "seeks," "estimates," variations of such words
and similar expressions are intended to identify such forward-looking
statements, which generally are not historical in nature. All statements that
address operating performance, events or developments that we expect or
anticipate will occur in the future — including statements relating to rent
and occupancy growth, development activity and changes in sales or
contribution volume of properties, disposition activity, general conditions in
the geographic areas where we operate, our debt and financial position, our
ability to form new co-investment ventures and the availability of capital in
existing or new co-investment ventures — are forward-looking statements. These
statements are not guarantees of future performance and involve certain risks,
uncertainties and assumptions that are difficult to predict. Although we
believe the expectations reflected in any forward-looking statements are based
on reasonable assumptions, we can give no assurance that our expectations will
be attained and therefore, actual outcomes and results may differ materially
from what is expressed or forecasted in such forward-looking statements. Some
of the factors that may affect outcomes and results include, but are not
limited to: (i) national, international, regional and local economic climates,
(ii) changes in financial markets, interest rates and foreign currency
exchange rates, (iii) increased or unanticipated competition for our
properties, (iv) risks associated with acquisitions, dispositions and
development of properties, (v) maintenance of real estate investment trust
("REIT") status and tax structuring, (vi) availability of financing and
capital, the levels of debt that we maintain and our credit ratings, (vii)
risks related to our investments in our co-investment ventures and funds,
including our ability to establish new co-investment ventures and funds,
(viii) risks of doing business internationally, including currency risks, (ix)
environmental uncertainties, including risks of natural disasters, and (x)
those additional factors discussed in reports filed with the Securities and
Exchange Commission by Prologis under the heading "Risk Factors." Prologis
undertakes no duty to update any forward-looking statements appearing in this
release.

SOURCE Prologis, Inc.

Website: http://www.prologis.com
Contact: (San Francisco), Tracy Ward, Tel: +1 415 733 9565,
tward@prologis.com, or Atle Erlingsson, Tel: +1 415 733 9495,
aerlingsson@prologis.com
 
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