Prologis Inc
For the period ended Dec 31, 2024. Filed Feb 14, 2025.
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FY2024 · Filed Feb 14, 2025
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Lease Expirations
We generally lease our properties on a long-term basis (the weighted average term for leases commenced, including new leases and renewals, in 2024 was 64 months). The following table summarizes the lease expirations of our consolidated operating portfolio for leases in place at December 31, 2024 (dollars and square feet in millions):
| NER | ||||
|---|---|---|---|---|
| Occupied Square Feet · Dollars · % of Total · Dollars Per Square Foot | ||||
| 2025 (1) | 58 | $430 | 8.0% | $7.41 |
| 2026 | 95 | 715 | 13.3% | 7.53 |
| 2027 | 101 | 820 | 15.3% | 8.12 |
| 2028 | 85 | 775 | 14.5% | 9.12 |
| 2029 | 78 | 744 | 13.9% | 9.54 |
| 2030 | 57 | 536 | 10.0% | 9.40 |
| 2031 | 31 | 252 | 4.7% | 8.13 |
| 2032 | 32 | 262 | 4.9% | 8.19 |
| 2033 | 22 | 213 | 4.0% | 9.68 |
| 2034 | 17 | 179 | 3.3% | 10.53 |
| Thereafter | 35 | 437 | 8.1% | 12.49 |
| 611 | $5,363 | 100.0% | $8.78 | |
| Month to month | 4 | |||
| Total consolidated | 615 | |||
(1)
We have signed leases that were due to expire in 2025, totaling 28 million square feet in our consolidated portfolio (3.4% of total NER). These are excluded from 2025 expirations and are reflected at their respective expiration year.
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