How Prologis Became “The Warehouse King”
It was in 1998, while running Prologis’ predecessor AMB Property Corp, that Hamid R. Moghadam recognized the opportunity in e-commerce. He made a small investment in online grocer Webvan and a big one in industrial real estate. While Webvan went bust, Hamid’s warehouses took off.
Almost two decades later, Prologis’ largest customer is e-commerce giant Amazon, occupying 16 million square feet (2 percent) of the company’s 687 million square foot portfolio. E-commerce companies comprise 10 percent of Prologis’ current customer base and 20 percent of all new leases.
According to the December 12, 2017 issue of Forbes magazine, “If you believe in e-commerce, you believe in Prologis.” The company is optimally positioned to meet the future demands of e-commerce with a purposeful location strategy and innovative solutions like the first modern multistory warehouse in the U.S.
Never complacent, Prologis is testing a connected facility tool in Europe to allow customers to manage key aspects of building operations digitally. Hamid envisions harnessing data from the trillion-plus dollars of goods that flow through Prologis’ facilities each year to provide customers with new insights and expanded opportunities.
Read more about the Future Flow of Goods.