Prologis and GIC Launch $1.6B US Build-to-Suit Logistics JV with 4.1M Sq Ft Portfolio
Prologis and GIC committed $1.6 billion to a U.S. joint venture acquiring an initial portfolio of 4.1 million square feet of build-to-suit logistics facilities. The venture adds to Prologis Strategic Capital’s platform overseeing $102 billion in assets and follows $3.1 billion of 2025 development starts, 60% of which were build-to-suit.
1. Joint Venture Formation
Prologis and GIC have formed a $1.6 billion joint venture to develop and own build-to-suit logistics facilities across major U.S. markets, combining institutional capital with Prologis’ development expertise.
2. Portfolio Details
The partnership commits to an initial portfolio of approximately 4.1 million square feet, with structured capital commitments designed to scale as customer pre-leases and land opportunities emerge.
3. Role of Strategic Capital
The joint venture will operate within Prologis Strategic Capital, the company’s asset management arm that oversees $102 billion in assets and generates fee-based revenue alongside institutional partners.
4. Build-to-Suit Demand Trends
Build-to-suit accounted for over 60% of Prologis’ $3.1 billion in development starts during 2025, driven by long-term customer commitments seeking purpose-built, automated distribution sites near key end markets.