US warehouse rents will defy logistics transportation rate drop -Prologis CEO
July 18, 2023 | Lisa Baertlein | Reuters
Warehouse rents will continue to rise even as other supply-chain costs tumble from pandemic highs, the CEO of the world’s largest warehouse landlord told Reuters on Tuesday.
Lease prices have proven far more resilient than air, ship, truck and train transportation rates which have dropped sharply due to the consumer spending shift from goods to services, inflation and higher borrowing costs.
Still, warehouse rent hikes are moderating as the market returns to more normal conditions, said Hamid Moghadam, the top executive at Prologis (PLD.N).
