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Prologis reported a record 228 million square feet of new tenant leases in 2025, with significant growth in data center capacity, expanding to 5.7 gigawatts. The company closed $4.4 billion in property sales and $1.15 billion in acquisitions, while planning $4 billion to $5 billion in new projects for 2026, with 40% focused on data centers. Prologis anticipates a decline in vacancy rates from 7.4% in 2025 to between 7.1% and 7.2% in 2026.