Prologis Says Industrial Demand Growing at a Sustainable Pace
The latest edition of the Nareit REIT report podcast featured Melinda McLaughlin, vice president of research at Prologis, Inc. (NYSE: PLD), who discussed some of the highlights of Prologis’ latest Industrial Business Indicator (IBI) index report, a quarterly survey of customer sentiment.
McLaughlin described industrial demand at mid-2019 as “healthy,” with the IBI index currently at a level of around 60. Customers are continuing to grow at a “sustainable pace” following 2018, which was the second highest level for net absorption of industrial space seen in this cycle.
“The tailwinds to demand, which we've seen throughout this cycle, continue to play a large part in what we're seeing in terms of customer leasing activity,” McLaughlin said.