Industrial real estate giant Prologis (NYSE: PLD) is slowing development of new properties.
The San Francisco-based firm told analysts during a third quarter earnings call Oct. 19 that it would lower its 2022 guidance for capital deployment for development starts to between $4.2 billion and $4.6 billion from $4.5 billion and $5 billion.
The third quarter saw Prologis’ portfolio record 97.8% occupancy — a record, CFO Tim Arndt said. The company also increased its projected annual rent growth…
