Industrial REITs Team to Standardize Key Property Metrics

A coalition of industrial REITs – Prologis, EastGroup Properties, Inc., First Industrial Realty Trust, Inc. and STAG Industrial, Inc. – said Wednesday it has updated its standardized methodology for calculating key non-GAAP property metrics to improve comparability across the sector. Building on the harmonization initiative announced in 2018, the so-named Industrial REIT Group reaffirmed its approach to determining property stabilization, occupancy, rent change and customer retention. 

Additionally, the annual same-store portfolio will continue to include only properties that were stabilized in both the current and prior periods presented. Criteria to exclude value-added and redevelopment properties from the same store portfolio were also reaffirmed. 

All Industrial REIT Group members will align their non-GAAP metrics with these methodologies when the metric is disclosed.  These methodologies are incorporated in each REIT’s 2025 guidance and are not expected to have a material impact on their non-GAAP metrics for periods prior to 2025.

Although minor differences may remain in calculation methods or terminology, the shared goal is to enhance consistency and comparability across the sector, the Industrial REIT Group said.

Pictured: A Prologis distribution center in Torrance, CA.

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