Prologis

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Prologis is a global real estate investment trust focused on logistics and distribution facilities.

Last updated August 31, 2026

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Overview

Prologis is a United States-based real estate investment trust specializing in logistics real estate, including warehouses, distribution centers and related infrastructure. Its modern corporate form was created in June 2011, when AMB Property Corporation acquired and combined with ProLogis, producing the world’s largest industrial real estate company at the time. The merged business retained the Prologis name and established its headquarters in San Francisco, while continuing to maintain significant operations in Denver and other markets. The company’s roots extend to several predecessor businesses. AMB began in the 1980s as an institutional investment manager and property company founded by Hamid Moghadam, Doug Abbey and T. Robert Burke. It gradually moved away from offices and retail properties toward industrial facilities, then expanded internationally around major trade hubs. The other principal predecessor was Security Capital Industrial Trust, founded by William Sanders in 1991 and later renamed ProLogis Trust. That business built a large portfolio of industrial and warehouse properties through acquisitions, development and international joint ventures. Prologis concentrates on strategically located logistics facilities near major population centers, ports, airports, highways and other transportation nodes. This location strategy reflects the scarcity and value of industrial land close to large urban markets, where tenants need rapid access to consumers and supply chains. Its customers include manufacturers, retailers, logistics providers, distributors and other organizations requiring large-scale storage and fulfillment capacity. By 2025, the company reported more than 6,000 buildings on over 15,000 acres, totaling approximately 1.3 billion square feet across 20 countries and serving about 6,600 tenants. The company has grown through both development and major acquisitions. Important transactions include the purchase of Catellus Development Corporation, the 2011 combination with AMB, the acquisitions of DCT Industrial Trust, Liberty Property Trust, Industrial Property Trust and Duke Realty, and multiple portfolio transactions with institutional investment partners. Prologis also operates investment-management and joint-venture activities, allowing institutional investors to participate in logistics real estate without directly owning and operating every asset. Beyond property ownership, Prologis has expanded into services and technology. Its Essentials platform, introduced in 2018, offers customers equipment and infrastructure such as solar power systems, warehouse racking, forklifts, generators, electric-vehicle charging and other logistics technologies. Prologis Ventures, established in 2016, invests in early- and growth-stage companies connected with logistics, real estate and supply-chain innovation. The company also publishes research on industrial property conditions, logistics rents and business activity. Sustainability and energy infrastructure have become important parts of the brand. Prologis has installed solar generation, developed highly efficient industrial buildings and pursued science-based emissions targets. In 2020, a Prologis building in Eindhoven, Netherlands, became the first industrial building to receive Zero Carbon Certification from the International Living Future Institute. In 2022, the Science Based Targets initiative validated the company’s commitment to reach net-zero emissions by 2040. In 2024, Prologis completed a large heavy-duty truck charging hub in Torrance, California, supported by a microgrid. The company therefore presents itself not only as a warehouse landlord but also as an infrastructure partner for increasingly electrified and technology-enabled supply chains.

History

Prologis developed from two major American industrial-property businesses. In 1983, Hamid Moghadam and Doug Abbey established Abbey, Moghadam and Company as an investment manager serving institutional clients. T. Robert Burke joined in 1984 and helped establish AMB Property Corporation. AMB initially invested in offices, industrial properties and community shopping centers, but during the savings and loan crisis it avoided major exposure to troubled assets and shifted decisively toward industrial real estate. It exited most of its office activity in 1987 and launched an industrial- and retail-focused private-equity fund in 1989. AMB became public in 1997 with more than $2.8 billion under management. It sold its retail portfolio in 1999 and concentrated on industrial facilities. In 2002 it made its first overseas investment and began an international expansion program centered on distribution facilities near global trade hubs in Latin America, Asia and Europe. An internal development division followed in 2004, while the company expanded in China and Brazil. The parallel ProLogis lineage began when William Sanders formed Security Capital Industrial Trust in 1991. SCI went public in 1994 and changed its name to ProLogis Trust in 1998. That year it acquired Meridian Industrial Trust in an all-stock transaction, becoming a major U.S. owner of industrial and warehouse properties. ProLogis created property funds in 1999, entered Japan in 2001 and China in 2003, and joined the S&P 500 in 2003. It acquired Keystone Industrial Trust in 2004 and Catellus Development Corporation in 2005. The period before the 2011 merger brought rapid growth but also pressure from leverage and the global financial crisis. Jeffrey Schwartz was replaced as chief executive by Walter Rakowich in 2008. Rakowich pursued cost reductions, capital raising and asset sales. ProLogis sold portfolios to institutional investors including Singapore’s GIC and Blackstone, and disposed of certain China and Japan interests. These measures helped reposition the company before its combination with AMB. In January 2011, AMB agreed to acquire the larger ProLogis in a transaction valued at approximately $8.7 billion. The merger closed in June 2011 and created a company with a global logistics portfolio and an estimated market value of about $24 billion. Hamid Moghadam and Walter Rakowich initially served as co-chief executives, with Moghadam becoming sole CEO in 2013. Subsequent growth included the creation of Nippon Prologis REIT in Japan, a European logistics partnership with Norges Bank Investment Management, the spin-off of the Mexican FIBRA Prologis vehicle and acquisitions of U.S. industrial portfolios. From 2016 onward, Prologis broadened its role in the logistics ecosystem. It created Prologis Ventures, invested in property and supply-chain technology companies, and developed multistory warehouses in dense Asian markets and the United States. The company expanded through the acquisitions of DCT Industrial Trust in 2018, Liberty Property Trust in 2020, Industrial Property Trust in 2020 and Duke Realty in 2022. It also acquired selected nontraditional real estate, including Hilltop Mall and land beneath California’s Great America, while retaining its central industrial-property strategy. Sustainability, digital infrastructure and energy services became increasingly visible. Prologis launched Essentials in 2018 to provide customers with warehouse equipment, renewable energy and charging infrastructure. It developed a zero-carbon-certified industrial building in Eindhoven in 2020, secured validation of a 2040 net-zero target in 2022 and built a major heavy-duty truck charging hub in Torrance in 2024. The company also publishes recurring market research, including the Industrial Business Indicator and Logistics Rent Index. In 2026, Moghadam moved to the executive-chairman role and Dan Letter became CEO.

2026
Dan Letter becomes CEO
[1]Prologisen.wikipedia.org
Hamid Moghadam became executive chairman and Dan Letter assumed the chief executive role.
2024
Heavy-duty truck charging hub completed
[1]Prologisen.wikipedia.org
Prologis completed a large truck-charging hub powered by a microgrid in Torrance, California.
2022
Duke Realty acquired
[1]Prologisen.wikipedia.org
Prologis completed its $23 billion acquisition of Duke Realty.
2020
Zero-carbon-certified industrial building completed
[1]Prologisen.wikipedia.org
A Prologis facility in Eindhoven received Zero Carbon Certification from the International Living Future Institute.
2018
Essentials platform introduced
[1]Prologisen.wikipedia.org
Prologis expanded into warehouse equipment, solar power, charging and related logistics infrastructure services.
2016
Prologis Ventures launched
[1]Prologisen.wikipedia.org
The company established a venture-capital arm focused on logistics and real-estate innovation.
2011
AMB and ProLogis merge
[1]Prologisen.wikipedia.org
The June merger created the modern Prologis and the world’s largest industrial real estate company at that time.
2005
Catellus acquired
[1]Prologisen.wikipedia.org
ProLogis acquired Catellus Development Corporation, substantially expanding its property base.
2003
ProLogis enters China and joins the S&P 500
[1]Prologisen.wikipedia.org
The company formed its first Chinese joint venture and was added to the S&P 500 Index.
1998
SCI renamed ProLogis Trust
[1]Prologisen.wikipedia.org
The legacy ProLogis business adopted the ProLogis Trust name and expanded its warehouse portfolio.
1997
AMB becomes a public company
[1]Prologisen.wikipedia.org
AMB completed its initial public offering after building an institutional real estate investment platform.
1991
Security Capital Industrial Trust established
[1]Prologisen.wikipedia.org
William Sanders formed the predecessor company that later became ProLogis.
1983
Abbey, Moghadam and Company founded
[1]Prologisen.wikipedia.org
Hamid Moghadam and Doug Abbey established the investment-management predecessor that later developed into AMB Property Corporation.

Products and positioning

A global logistics-real-estate platform providing strategically located industrial facilities, supply-chain infrastructure, energy solutions and related services to business tenants and institutional investors.

Industrial real estate
Logistics and distribution facilities
The core Prologis offering consists of warehouses and distribution centers located near major urban markets, ports, airports, highways and trade corridors. Facilities support storage, fulfillment, manufacturing, regional distribution and other supply-chain functions. Prologis serves a broad tenant base ranging from retailers and manufacturers to third-party logistics providers.
Logistics infrastructure services · 2018
Prologis Essentials
Essentials extends the company beyond property leasing by supplying or arranging warehouse and site infrastructure. Offerings include solar power, racking, forklifts, generators, electric-vehicle charging and other logistics technology and equipment. The platform is intended to help tenants improve operational capacity and energy performance within or around Prologis facilities.
Venture investment platform · 2016
Prologis Ventures
Prologis Ventures invests in early-stage and growth companies relevant to logistics, supply chains, property technology, energy and industrial operations. It gives Prologis exposure to technologies that may improve warehouse productivity, transportation, sustainability and the broader logistics ecosystem.
Real estate investment management · 1999
Industrial property funds and joint ventures
Prologis manages funds and partnerships for institutional investors, combining property ownership, development, acquisition, asset management and operating expertise. These structures have supported expansion in Europe, Japan, Mexico, North America and other international markets.

Brand decisions

2022
Acquisition of Duke RealtyM&A
Background
Prologis pursued additional scale in U.S. logistics real estate during continued growth in demand for distribution facilities.
Action taken
Prologis acquired Duke Realty in a transaction valued at approximately $23 billion.
Aftermath
The deal expanded Prologis’s U.S. industrial portfolio and was characterized as the largest U.S. commercial real estate transaction since the start of the COVID-19 pandemic.
Transaction value. Approximately US$23 billion (Completed October 2022)
Source
2018
Expansion into customer logistics infrastructureStrategy
Background
Warehouse tenants increasingly needed integrated energy, equipment and technology solutions in addition to physical space.
Action taken
Prologis launched Essentials, offering solar power, racking, forklifts, generators, EV charging and related logistics technology.
Aftermath
The initiative broadened Prologis’s role from industrial landlord toward a provider of operational and energy infrastructure.
Source
2011
Combination with AMB Property CorporationM&A
Background
AMB agreed to acquire ProLogis as both companies sought greater scale in global industrial real estate.
Action taken
The transaction closed in June 2011 and the combined company adopted the Prologis name.
Aftermath
The merger created the largest industrial real estate company in the world at the time and integrated portfolios across North America, Europe, Asia and South America.
Transaction value. Approximately US$8.7 billion (Agreement announced January 2011; completed June 2011)
Source

Recent events

Unconfirmed
FIBRA Prologis acquires three logistics properties[2]FIBRA Prologis收购三处物流物业prnewswire.com
Reported: 2022-01-10
FIBRA Prologis acquired three buildings from its sponsor, Prologis, Inc., and other third parties. The properties total 873,225 square feet and are located in Mexico City, Reynosa and Tijuana; the reported total investment was US$71.5 million, including closing costs.
2021-11-25
GLP and Anhui Civil Aviation Airport Group sign strategic cooperation agreement[3]普洛斯与安徽民航机场集团签署战略合作协议prnasia.com
Reported: 2021-11-29
GLP and Anhui Civil Aviation Airport Group signed a strategic cooperation agreement covering strategic research on Hefei Airport cargo-area planning, aviation logistics park planning and investment, and cooperation across aviation logistics businesses.
2021-05-11
GLP completed an $850 million green perpetual bond issue[4]普洛斯完成8.5亿美元绿色永续债券发行prnasia.com
Reported: 2021-05-11
GLP completed the pricing and issuance of $850 million in green subordinated perpetual bonds, expanding the deal from its $500 million target after investor subscriptions exceeded six times that target.
2021-04-26
GLP China Income Fund II completes fundraising[5]普洛斯中国收益基金II完成募集finance.sina.com.cn
Reported: 2021-04-27
GLP China Income Fund II completed fundraising on April 26, with a total investment scale of RMB 5.8 billion. GLP is the fund manager and asset manager.
2020-08-19
Prologis announces workforce initiative expansion with JFF[6]Prologis 宣布与 JFF 扩大劳动力培训计划prnewswire.com
Reported: 2020-08-19
Prologis announced an expansion of its Community Workforce Initiative in partnership with JFF, with a stated goal of equipping 25,000 people with skills for transportation, distribution and logistics jobs by the end of 2025.
2020-08-14
Free Trade No. 1 and Fudan University establish medical-device research center[7]自贸壹号与复旦大学共建医疗器械联合研究中心prnasia.com
Reported: 2020-08-14
Free Trade No. 1 and Fudan University signed an agreement and inaugurated the Fudan–Free Trade No. 1 Medical Device Joint Research Center at the GLP Free Trade No. 1 Life Science Industrial Park in Shanghai. The center is intended to support industry-academia-research collaboration and the application of research and technological innovation results.
Unconfirmed
SF International signs lease for its first UK distribution center[8]顺丰国际签约设立英国首个配送中心house.cnfol.com
SF International signed a lease with GLP for more than 8,300 square meters at G-Park Northampton. The center is described as SF's first distribution center in the UK.
2020-04-06
FIBRA Prologis announces acquisition of Mexico City logistics park[9]FIBRA Prologis宣布收购墨西哥城物流园区prnewswire.com
Reported: 2020-04-06
FIBRA Prologis announced that it was acquiring eight properties comprising Prologis Park Grande, a fully leased Class-A logistics park in Mexico City, from its sponsor, Prologis, for US$353 million including closing costs but excluding VAT.
2020-03-02
GLP wins eight 2019 PERE Global Awards[10]普洛斯荣膺8项2019年度PERE全球大奖finance.sina.com.cn
Reported: 2020-03-02
GLP won eight awards in PERE's 2019 Global Awards, including global, Asian, Chinese and Japanese institution awards and a North American industry figure award.
2020-02-04
Prologis completes acquisition of Liberty Property Trust[11]Prologis 完成对 Liberty Property Trust 的收购mcall.com
Reported: 2020-02-05
Prologis completed its all-stock acquisition of Liberty Property Trust for $13 billion, including the assumption of debt. Each Liberty common share was converted into the right to receive 0.675 Prologis common shares.

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