Prologis & GIC Establishes $1.6B U.S. Build-to-Suit Logistics Joint Venture

Prologis, Inc. PLD and GIC, a leading global institutional investor, announced the formation of a joint venture (JV) to focus on developing and owning build-to-suit logistics facilities in key U.S. markets.

The JV includes $1.6 billion in combined capital commitments, encompassing an initial portfolio of about 4.1 million square feet with additional capacity for future investments.

This new venture combines Prologis' development and operating platform with long-term institutional capital and will operate under Prologis Strategic Capital, the company's asset management business. It is designed to scale with demand as customer commitments are secured.

Per Daniel S. Letter, CEO of Prologis, "Build-to-suit activity continues to be one of the clearest signals of customer conviction across our business. This joint venture with GIC builds on that momentum by pairing our platform and development expertise with a partner that shares our long-term perspective."

As customers make long-term commitments to distribution networks and operations, build-to-suit development has become a larger share of Prologis' pipeline. In 2025, the company started $3.1 billion worth of development projects, more than 60% of which were build-to-suit.

The JV strengthens Prologis Strategic Capital as a key growth platform, enabling Prologis to invest alongside institutional partners while applying its expertise in development, operations, and customer relationships to every deal.

In the past three months, shares of this Zacks Rank #3 (Hold) company have increased 2.5% compared with the industry’s rise 4.4%.

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