Prologis to develop 316,000 square feet in United Kingdom Prologis announced it will develop a 316,000 square foot distribution facility at DP World London Gateway in the United Kingdom. The facility will be constructed at London Gateway, a multimodal logistics park and deep-water port located 20 miles from central London. Prologis is developing London Gateway's first logistics facility in a joint venture with DP World. Prologis owns and manages approximately 19.6M square feet of logistics and distribution space in the U.K. as of March 31.
Prologis price target raised to $50 from $45 at Oppenheimer Oppenheimer believes that the beneficial operating environment coupled with a robust development pipeline should allow Prologis to grow its FFO faster than its peers for the next two years. The firm expects the stock's valuation to rise relative to its peers and it keeps an Outperform rating on the shares.