Warehouse landlord Prologis is buying rival logistics owner DCT Industrial Trust for $8.4 billion in stock, giving the company more exposure to key markets like New York, southern California and south Florida. The deal, which is expected to close in the third quarter, gives Prologis an additional 71 million square feet in key areas where online shopping is driving demand for warehouse space, Bloomberg reported. “Land is hard to come by in high-rent markets where […]
source https://therealdeal.com/2018/04/30/prologis-to-buy-rival-warehouse-reit-for-8-4b/
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