Signage outside a Prologis warehouse occupied by Kuehne + Nagel in Redlands, California, U.S., on Sunday, Nov. 7, 2021. Fallout from the global supply-chain crisis is clogging U.S. ports, pushing warehouses to capacity and forcing logistics managers to scramble for space.
Roger Kisby | Bloomberg | Getty Images
Both companies’ boards of directors have unanimously approved the transaction, a press release said.
Prologis controls roughly 1 billion square feet of warehouses and distribution centers used by companies including Amazon, Home Depot and FedEx. While Duke Realty owns and operates about 160 million square feet of industrial real estate in 19 major U.S. logistics markets.
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