Zoox Leases PGIM’s 354,000 SQFT LogistiCenter in Hayward, More Than Doubling Its Clawiter Road Footprint
Why this matters
Commercial real estate continues to digest a multi-year reset in cost of capital. Transaction velocity is below the 2019-2021 trend but improving, cap rates have stabilized across most stabilized property types, and the bid-ask gap has narrowed materially in the past two quarters. Sponsors with permanent capital and operating platforms have an advantage in the current execution environment. The next twelve months will continue to reward underwriting discipline and operational sophistication over balance-sheet aggression.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- 18 stories mentioning PGIM on the wire in the past 90 days. PGIM coverage →
Computed from Real Estate Trail’s own tracked coverage
Amazon-owned Zoox has taken both buildings at PGIM's LogistiCenter at Highway 92 in Hayward, a 353,653-square-foot commitment that puts three of the robotaxi maker's facilities within a short drive of one another on C…
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