Rents for industrial real estate — a category that largely comprises warehouses — are rising at double-digit rates in more than a dozen US markets.

Because if you believe in e-commerce, you believe in Prologis. While internet shopping has devastated demand for traditional retail spaces, it has had the opposite effect on industrial real estate. Amazon is Prologis' largest tenant, occupying 16 million square feet. (Prologis is also Amazon's largest landlord, accounting for 13% of the warehouse space it operates.) Why? Getting a book to you in less than 48 hours (Amazon Prime's promise) means already having it--and several thousand other items--nearby when you order.

For years smouldering hazardous waste sparked fires among the rubbish. But Bleecker Street is now dotted with empty shops, their landlords unable to find tenants. The lot in New Jersey has been cleaned up and turned into a giant warehouse by Prologis, the world’s biggest industrial-property firm. The chemical fires are out. Delivery trucks are in.

Prologis CEO, discusses how his company is taking advantage of the booming e-commerce space with warehouses to fulfill the needs of the consumer.

Once again, how goods flow from manufacturers to consumers is about to change. Over the next decade, prompted by new technologies and business processes, this transformation will reduce supply chain costs and reorder its components.

Prologis CEO Hamid Moghadam ranks in the top 20 of best performing CEOs of 2018 by Harvard Business Review