Strong Second Quarter Results: Prologis reported a Core FFO of $1.46 per share (excluding net promotes, $1.47), surpassing forecasts. The occupancy rate remained robust at 95.1%, outperforming the market average by 290 basis points, despite a general rise in market vacancy rates.

Healthy Leasing Pipeline: The leasing pipeline grew 19% year-over-year to 130 million square feet, demonstrating increased customer interest. Notably, larger deals (over 100,000 square feet) are more prevalent, signaling a strong demand driven by major customers, particularly in the build-to-suit segment.

Guidance Increase and Confidence: Management raised their full-year guidance for Core FFO to a range of $5.75-$5.80 per share, driven by stronger NOI and strategic capital revenues. The guidance reflects improved visibility and operational performance, with net effective same-store NOI growth projected between 3.75% to 4.25%.