Prologis First Quarter 2024 Performance Update

Prologis First Quarter 2024 Performance Update

Quote from Ben Bannatyne, president, Prologis Europe

Ben Bannatyne, president, Prologis Europe

“In the first quarter of 2024, demand for our high-quality logistics real estate remained steady across the 12 European markets where we operate. Germany and the Netherlands continue to be the strongest markets, given their high barriers to supply and strong demand.

We anticipate our customers’ need for space when and where they need it most, whether that is meeting the demand of e-commerce or building data centres. We leverage our extensive ready-to-build land bank, robust financial position and super integrated logistics platform to provide a complete solution tailored to their needs.”

Operating Performance – First Quarter 2024:

Total portfolio: 22.5 million square metres*

First quarter total leasing activity: 1,078,262 square metres:

  • New leases: 147,929 square metres
  • Renewals: 930,333 square metres

Q1 2024 rent change: 20.5%**

Occupancy: 97%

* includes operating, development, held for sale, other and VAA/VAC
** rent change is based on lease start date

GROUNDBREAKERS 2024 will be held in London

GROUNDBREAKERS, Prologis’ signature thought leadership event, will take place in Europe for the first time! Last year’s event explored the electrification of everything, a rapidly changing workforce and how AI is influencing the supply chain — among other themes (view panels). This October, we’re gearing up for even more innovation, engagement and knowledge sharing in a one-of-a-kind event. Mark your calendars for October 2nd, and stay tuned for more information!


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