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Logistics real estate posted a record-setting year in 2021, driven by intense competition for space that pushed rents to new heights. 

The Prologis IBI (Industrial Business Indicator) Activity Index rose to 67 across the 29 US markets the firm tracks in the fourth quarter; a number above 50 indicates growth, Prologis says.  Rents ticked up by 6.5% over Q3 figures at 20.4% annually, and logistics tenants snapped up 120 million square feet of space in the fourth quarter. Overall, absorption hit 410 million square feet in the quarter, a record, and is up 85% over 2020 numbers.

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