A leading real estate investment trust (REIT), Prologis (PLD), recently signed a lease with Expert Logistics for a space of 360,000 square feet. Expert Logistics is a subsidiary of DRL Holdings Ltd, the largest online kitchen appliance specialist in the United Kingdom (UK), which will occupy the entire facility.
With this strategic move, Prologis would nearly complete the lease up of its development portfolio in the UK. The leased building, named Prologis Crewe 360, gives its tenants an immediate access to the motorway network and is expected to be cost effective from the operational point of view.
Prologis is a leading industrial real estate investment trust (REIT) that acquires, develops, operates and manages industrial real estate space in North America, Asia and Europe. The majority of the company’s portfolio comprises high throughput distribution (HTD), which offers multiple options for quick movement and the distribution of goods to the customer, as well as serves as a critical element in creating efficiencies in the global supply chain.
HTD properties include warehouses or other industrial properties located near airports, seaports, and ground transportation facilities, which enable rapid distribution of customers’ products.
Prologis currently retains a Zacks #3 Rank, which translates into a short-term ‘Hold’ rating. We are also maintaining our long-term “Underperform” recommendation on the stock. One of its competitors, PS Business Parks Inc. (PSB) also holds a Zacks #3 Rank.
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