09:10 AM EDT, 03/19/2026 (MT Newswires) -- Prologis ( PLD ) said Thursday that it has formed a $1.6 billion joint venture with GIC to develop build-to-suit logistics facilities across major US markets.

The venture includes an initial 4.1 million square feet portfolio, with capacity for further expansion, Prologis ( PLD ) said.

The venture will operate under Prologis Strategic Capital, the company added.

Build-to-suit projects now make up over 60% of Prologis' ( PLD ) development pipeline, the company said. These facilities are typically pre-leased and tailored for automation and high-throughput operations, offering stable, long-term returns for institutional investors, it said.