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Prologis, Stirling Development form JV for Calif. logistics airport project

Industrial real estate investment trust Prologis Inc. and Stirling Development entered into a joint venture, with a view to continuing the build-out of the 8,500-acre Southern California Logistics Airport project in Victorville, Calif.

The project includes a 2,500-acre commercial and industrial complex entitled for 60 million square feet of development.

Stirling Development is planning the next phase of the project and will be responsible for development management and asset management for the venture. Prologis will take over as 50% capital partner for Stirling Capital Investments, according to a release.