Prologis and GIC have formed a $1.6 billion joint venture to develop logistics facilities across the United States, targeting rising demand from the e-commerce sector.
The partnership will focus on build-to-suit (BTS) developments, where facilities are custom-designed for specific tenants and typically pre-leased ahead of construction. This model is expected to ensure stable occupancy while meeting the tailored needs of large e-commerce and distribution players.
The venture’s initial portfolio comprises around 4.1 million square feet, with plans to expand as new projects are added over time. The companies indicated that the platform will scale in line with market opportunities and customer demand.
Prologis will manage the venture through its Strategic Capital business, combining its development and operational expertise with long-term capital from GIC.
The move underscores continued investor confidence in U.S. logistics real estate, driven by structural growth in online retail, supply chain optimization, and demand for modern warehousing infrastructure.