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Prologis, Inc. is a
real estate investment trust A real estate investment trust (REIT, pronounced "reet") is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of real estate, including office and apartment buildings, studios, warehouses, hos ...
headquartered in
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that invests in logistics facilities. The company was formed through the merger of AMB Property Corporation and Prologis in June 2011, which made Prologis the largest industrial real estate company in the world. As of 2025, the company operates more than 15,000 land acres and over 6,000 buildings comprising about 1.3 billion square feet in 20 countries across
North America North America is a continent in the Northern Hemisphere, Northern and Western Hemisphere, Western hemispheres. North America is bordered to the north by the Arctic Ocean, to the east by the Atlantic Ocean, to the southeast by South Ameri ...
,
Latin America Latin America is the cultural region of the Americas where Romance languages are predominantly spoken, primarily Spanish language, Spanish and Portuguese language, Portuguese. Latin America is defined according to cultural identity, not geogr ...
,
Europe Europe is a continent located entirely in the Northern Hemisphere and mostly in the Eastern Hemisphere. It is bordered by the Arctic Ocean to the north, the Atlantic Ocean to the west, the Mediterranean Sea to the south, and Asia to the east ...
, and
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. According to ''The Economist'', its business strategy is focused on warehouses that are located close to huge urban areas where land is scarce. It serves about 6,600 tenants."Prologis, Inc. REIT Profile"; REIT Notes; accessed February 6, 2022.
/ref> Prologis began to expand its non-real estate business, Essentials, in 2018, offering customers solar power, racking systems, forklifts, generators, EV charging infrastructure, and other logistics tech equipment for purchase.


History

AMB, the earliest predecessor of Prologis, was formed in 1984. In its present form, Prologis was created in 2011 through the merger of AMB and ProLogis, both multinational real estate companies based in the United States.


1983 founding and early history

In 1983, Hamid Moghadam and Doug Abbey founded Abbey, Moghadam and Company, an investment manager serving institutions. T. Robert Burke joined the company in 1984, establishing AMB Property Corporation, investors in office, industrial and community shopping centers on behalf of large
institutional investor An institutional investor is an entity that pools money to purchase securities, real property, and other investment assets or originate loans. Institutional investors include commercial banks, central banks, credit unions, government-linked ...
s. During the
savings and loan crisis The savings and loan crisis of the 1980s and 1990s (commonly dubbed the S&L crisis) was the failure of approximately a third of the savings and loan associations (S&Ls or thrifts) in the United States between 1986 and 1995. These thrifts were b ...
, the company avoided significant financial repercussions by investing in industrial parks and shopping centers, and began to exit the office market in 1987. AMB launched its first private equity fund in 1989, which focused on industrial and retail properties. In late 1997, AMB became a
public company A public company is a company whose ownership is organized via shares of share capital, stock which are intended to be freely traded on a stock exchange or in over-the-counter (finance), over-the-counter markets. A public (publicly traded) co ...
via an
initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...
, with more than US$2.8 billion under management. In 1999, the company sold its retail portfolio to focus solely on the industrial sector, then made its first overseas investment in 2002, developing a facility for
Procter & Gamble The Procter & Gamble Company (P&G) is an American multinational consumer goods corporation headquartered in Cincinnati, Ohio. It was founded in 1837 by William Procter and James Gamble. It specializes in a wide range of personal health/con ...
. That year, AMB initiated an international expansion program focused on buying and developing distribution facilities near global trade hubs, particularly in growth markets such as
Latin America Latin America is the cultural region of the Americas where Romance languages are predominantly spoken, primarily Spanish language, Spanish and Portuguese language, Portuguese. Latin America is defined according to cultural identity, not geogr ...
,
Asia Asia ( , ) is the largest continent in the world by both land area and population. It covers an area of more than 44 million square kilometres, about 30% of Earth's total land area and 8% of Earth's total surface area. The continent, which ...
, and Europe. AMB added an internal development division in 2004 and, by 2011, was expanding its operations in China and Brazil.


Creation of Prologis legacy company SCI and international expansion

Real Estate entrepreneur William Sanders formed Security Capital Industrial Trust (SCI), a legacy company of Prologis, in 1991, and it became a
public company A public company is a company whose ownership is organized via shares of share capital, stock which are intended to be freely traded on a stock exchange or in over-the-counter (finance), over-the-counter markets. A public (publicly traded) co ...
via an IPO in 1994. ProLogis, Inc. (then with a capitalized L) was incorporated on November 24, 1997 under the leadership of K. Dane Brooksher, a former KPMG senior executive. SCI officially changed its name to ProLogis Trust in July 1998, then active in 84 markets in 12 countries, with a market capitalization of nearly $5 billion. In November 1998, ProLogis Trust acquired Meridian Industrial Trust for $862.5 million in stock, and was the largest owner of industrial and warehouse properties in the U.S. ProLogis Trust formed its first property funds in 1999 and entered the Japanese market in 2001, the same year it shortened its name to ProLogis. In 2003, ProLogis was added to the
S&P 500 Index The Standard and Poor's 500, or simply the S&P 500, is a stock market index tracking the stock performance of 500 leading companies listed on stock exchanges in the United States. It is one of the most commonly followed equity indices and in ...
and entered the Chinese market, forming its first joint venture in China with Suzhou Logistics Center Co. Ltd. In 2004, the company acquired Keystone Industrial Trust for $1.6 billion. Brooksher retired as chairman and CEO on December 31, 2004. In 2005, Prologis was headquartered in
Aurora, Colorado Aurora (, ) is a List of municipalities in Colorado#Home rule municipality, home rule city located in Arapahoe County, Colorado, Arapahoe, Adams County, Colorado, Adams, and Douglas County, Colorado, Douglas List of counties in Colorado, counti ...
, and acquired Catellus Development Corporation for $3.6 billion, later selling a portfolio of those assets with rights to the Catellus name to TPG Capital, in 2011, for $505 million. In 2006, ProLogis became a Fortune 1000 company and the ProLogis European Properties Fund became a
public company A public company is a company whose ownership is organized via shares of share capital, stock which are intended to be freely traded on a stock exchange or in over-the-counter (finance), over-the-counter markets. A public (publicly traded) co ...
. Following aggressive expansion and heavy borrowing, ProLogis' CEO Jeffrey Schwartz was replaced by Walter Rakowich in 2008, who implemented cost-cutting efforts, raising capital and selling assets. In December 2008, ProLogis sold a portfolio of assets to the Government of Singapore Investment Corporation, with which it formed Global Logistic Properties. The company sold its China operations and some of its Japanese interests to GIC Private Limited for $1.3 billion in 2009. That August, ProLogis secured financing from Deutsche Pfandbriefbank and an unidentified German bank for two of its funds.
The Blackstone Group Blackstone Inc. is an American alternative investment management company based in New York City. It was founded in 1985 as a mergers and acquisitions firm by Peter G. Peterson, Peter Peterson and Stephen A. Schwarzman, Stephen Schwarzman, who h ...
acquired a portfolio of assets from the company in late 2010 for $1 billion.


2011 merger to present

In March 2011, before the merger with ProLogis, AMB Property formed a €470 million joint venture with
Allianz Allianz SE ( , ) is a German Multinational corporation, multinational financial services company headquartered in Munich, Germany. Its core businesses are insurance and asset management. Allianz is the world's largest List of largest insurance ...
Real Estate. Agreed to in January 2011, AMB Property Corporation contracted to buy the larger ProLogis for $8.7 billion, with the new entity named Prologis. Prologis would then be based in
San Francisco San Francisco, officially the City and County of San Francisco, is a commercial, Financial District, San Francisco, financial, and Culture of San Francisco, cultural center of Northern California. With a population of 827,526 residents as of ...
, AMB's hometown, and maintain an office in
Denver, Colorado Denver ( ) is a List of municipalities in Colorado#Consolidated city and county, consolidated city and county, the List of capitals in the United States, capital and List of municipalities in Colorado, most populous city of the U.S. state of ...
, where ProLogis was based. Completed in June 2011, the merger was one of the biggest real estate deals since the
Great Recession The Great Recession was a period of market decline in economies around the world that occurred from late 2007 to mid-2009.
, and created the largest industrial real estate company in the world. With a total market value estimated at $24 billion, the new Prologis had around $46 billion in assets under management and logistics and distribution facilities in North America, Europe, Asia and South America. AMB CEO Hamid R. Moghadam and ProLogis CEO Walter Rakowich were appointed as the new company's co-chiefs, with Moghadam becoming the sole CEO in 2013. In February 2012, the company sold a 3.5 million square foot portfolio in the
United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotlan ...
to
The Blackstone Group Blackstone Inc. is an American alternative investment management company based in New York City. It was founded in 1985 as a mergers and acquisitions firm by Peter G. Peterson, Peter Peterson and Stephen A. Schwarzman, Stephen Schwarzman, who h ...
for $335 million. On February 14, 2013, Nippon Prologis REIT, Inc. (NPR), a Japanese real estate investment trust formed by Prologis, completed an IPO on the
Tokyo Stock Exchange The , abbreviated as Tosho () or TSE/TYO, is a stock exchange located in Tokyo, Japan. The exchange is owned by Japan Exchange Group (JPX), a holding company that it also lists (), and operated by Tokyo Stock Exchange, Inc., a wholly owned sub ...
. In March 2013, Prologis formed the Prologis European Logistics Partners Sarl joint venture with Norges Bank Investment Management for US$3.1 billion. In August 2013, in partnership with
The Blackstone Group Blackstone Inc. is an American alternative investment management company based in New York City. It was founded in 1985 as a mergers and acquisitions firm by Peter G. Peterson, Peter Peterson and Stephen A. Schwarzman, Stephen Schwarzman, who h ...
the company acquired a 17 million square foot portfolio for $960 million from
Lehman Brothers Lehman Brothers Inc. ( ) was an American global financial services firm founded in 1850. Before filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Goldman Sachs, Morgan Stanley, and Merril ...
. In 2013, Prologis announced plans for further expansion in Japan, its second largest market, after the United States. In 2014, the company completed the spin-off of FIBRA Prologis, its Mexican affiliate (also known as Prologis Property Mexico SA), raising about 7 billion pesos (US$541 million) and sold a 59-property portfolio to TPG for $375 million. Prologis had reduced its number of managed funds from 23 to 11 by the spring of 2015, and was managing $29 billion in real-estate assets. That quarter, the company sold a
Silicon Valley Silicon Valley is a region in Northern California that is a global center for high technology and innovation. Located in the southern part of the San Francisco Bay Area, it corresponds roughly to the geographical area of the Santa Clara Valley ...
industrial park to Facebook, Inc. With corporate headquarters remaining in San Francisco, that April, Prologis announced a plan to move offices from east Denver, Colorado, to a new building in downtown Denver in 2017. That June, Prologis partnered with Norges Bank Investment Management to buy KTR Capital Partners for $5.9 billion, expanding its real estate portfolio in the U.S. through the Prologis U.S. Logistics Venture. In October 2015, it acquired Morris Realty Associates' portfolio of logistics and retail properties in the U.S. for $820 million, selling off the retail assets to an affiliate of
The Blackstone Group Blackstone Inc. is an American alternative investment management company based in New York City. It was founded in 1985 as a mergers and acquisitions firm by Peter G. Peterson, Peter Peterson and Stephen A. Schwarzman, Stephen Schwarzman, who h ...
for $374 million. Prologis formed Prologis Ventures, its venture capital arm, in March 2016, making 20 investments by late 2019. and invested over $250 million in about 50 early- and growth-stage companies by 2024. By late 2016, Prologis had built large multistory warehouses in Japan,
Singapore Singapore, officially the Republic of Singapore, is an island country and city-state in Southeast Asia. The country's territory comprises one main island, 63 satellite islands and islets, and one outlying islet. It is about one degree ...
and China. The company began construction on a three-floor warehouse in
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, Washington, in November 2016, which was the first multi-story warehouse in the country. The following month, Prologis also outlined plans to build a three-story warehouse in San Francisco. That December, Prologis received two 2016 Eurobuild CEE Awards. Acquisitions include DCT Industrial Trust for $8.5 billion in August 2018, Liberty Property Trust for $13 billion in January 2020, and, the following month, Industrial Property Trust for $4 billion. In April 2021, the company acquired Hilltop Mall in
Richmond, California Richmond is a city in western Contra Costa County, California, United States. The city was municipal corporation, incorporated on August 3, 1905, and has a Richmond, California, City Council, city council.
for $117 million, then, in June 2022, the land below California's Great America in
Santa Clara, California Santa Clara ( ; Spanish language, Spanish for "Clare of Assisi, Saint Clare") is a city in Santa Clara County, California. The city's population was 127,647 at the 2020 United States census, 2020 census, making it the List of cities and towns i ...
from Cedar Fair, which leased the land back with plans to close the amusement park by 2033. Prologis acquired competitor Duke Realty in October 2022, for $23 billion, completing the largest commercial real estate transaction in the U.S. since the onset of the
COVID-19 pandemic The COVID-19 pandemic (also known as the coronavirus pandemic and COVID pandemic), caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), began with an disease outbreak, outbreak of COVID-19 in Wuhan, China, in December ...
. The following June, it acquired a further 14 million square feet of industrial property from
The Blackstone Group Blackstone Inc. is an American alternative investment management company based in New York City. It was founded in 1985 as a mergers and acquisitions firm by Peter G. Peterson, Peter Peterson and Stephen A. Schwarzman, Stephen Schwarzman, who h ...
for $3.1 billion. Prologis had become the first logistics REIT with an approved science-based carbon-emissions target in 2018; in June 2022, the Science Based Targets initiative validated a commitment by Prologis to reach net-zero emissions by 2040. In 2020, Prologis completed construction of the world's first industrial building to receive Zero Carbon Certification from the International Living Future Institute (ILFI) in Eindhoven, Netherlands. In 2024, Prologis built North America’s largest heavy-duty truck charging hub, powered by a microgrid. The Denker Avenue hub is located in Torrance, California. That November, Prologis was ranked second in the nation for on-site solar generation by the Solar Energy Industries Association (SEIA) Solar Means Business Report. In 2024, Prologis ranked 39th among the Drucker Institute and ''
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''s annual Management Top 250 companies for employee engagement and development. The company was also named among the Corporate Knights Global 100, ''
Fast Company ''Fast Company'' is an American business magazine published monthly in print and online, focusing on technology, business, and design. It releases six print issues annually. History ''Fast Company'' was founded in November 1995 by Alan Webb ...
''s Most Innovative Companies in logistics in 2024, the World's Most Sustainable Companies by ''
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'', and continues to be counted among the
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and '' Fortunes annual Most Admired Companies list.


Market research

Since 2016, the company has published
white paper A white paper is a report or guide that informs readers concisely about a complex issue and presents the issuing body's philosophy on the matter. It is meant to help readers understand an issue, solve a problem, or make a decision. Since the 199 ...
s and its own
market research Market research is an organized effort to gather information about target markets and customers. It involves understanding who they are and what they need. It is an important component of business strategy and a major factor in maintaining com ...
, including the quarterly ''Industrial Business Indicator'' and the annual ''Prologis Logistics Rent Index''. In partnership with Oxford Economic Papers, the company determined that, in 2022, $2.7 trillion of goods either produced or sold worldwide passed through Prologis facilities, representing 2.8% of the global GDP with an economic impact of $300 billion.


References


External links

* {{Authority control 1997 initial public offerings American companies established in 1983 Companies based in San Francisco Companies listed on the New York Stock Exchange Financial services companies established in 1983 Real estate companies established in 1983 Real estate investment trusts of the United States