Prologis is buying Duke Realty in an all-stock transaction valued at $26 billion, including the assumption of debt, the companies said

The deal marks the largest commercial real estate sale since the start of the pandemic, according to real estate analytics firm Green Street, and is the latest in a string of blockbuster acquisitions in the sector. Warehouses and distribution centers have been a particularly hot property type—especially during the pandemic—because consumer shopping habits have been shifting online.