Prologis to Buy Duke Realty in $26 Billion Deal, Including Debt

Prologis the world’s largest warehouse operator, agreed to buy rival Duke Realty in a $26 billion deal that highlights a widening gulf between those who think e-commerce growth has a long way to go and those who think it is running out of steam.

The deal marks the largest commercial real estate sale since the start of the pandemic, according to real estate analytics firm Green Street, and is the latest in a string of blockbuster acquisitions in the sector. Warehouses and distribution centers have been a particularly hot property type—especially during the pandemic—because consumer shopping habits have been shifting online.