Two Companies Are Dominating the Battle for Warehouse Space

Between them, Blackstone and Prologis have made more than $38 billion in warehouse acquisitions in 2019.

(Bloomberg)—It’s the year of the warehouse mega-deal, and the two largest players are running away from the pack.

Blackstone Group Inc. and real estate investment trust Prologis Inc. are locked in an Amazon-fueled acquisition battle, gobbling up U.S. warehouse space in a bid to profit from rising consumer demand for fast shipping.

Together, the two companies have inked warehouse acquisitions worth more than $38 billion in 2019. More than 40% of that total comes from a pair of deals announced in the last month.

“There’s a huge amount of demand coming from e-commerce,” said Lindsay Dutch, a Bloomberg Intelligence analyst. “The growth of online shopping and the desire for quick delivery times has really driven a need for more warehouses, especially in the last mile.”

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