Skip to content
Subscriber Only

Prologis to Lift Japan Rents, Build Warehouses on Abenomics

Prologis Inc., the world’s biggest warehouse owner, plans to increase rents and spend as much as $600 million a year to develop warehouses in Japan as Prime Minister Shinzo Abe’s policies boost corporate confidence.

The company expects rents to rise about 3 percent annually “for a while” and will build $500 million to $600 million of warehouses a year, said Hamid Moghadam, chairman and chief executive officer of San Francisco-based Prologis. That compares with the the average annual investment of $400 million to $600 million historically, he said.