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Prologis history
Prologis company history timeline
During the savings and loan crisis, 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.
Security Capital Industrial Trust (SCI), a legacy company to Prologis, was formed in 1991.
1994: Security Capital goes public on the New York Stock Exchange.
Meridian had been created in 1996 from the merger of four smaller companies, which had combined assets of $250 million at the time.
The June 1998 purchase of Hatfield, Pennsylvania-based Rosenberger Cold Storage Cos. increased SCI's cold holdings by 27 percent, reported the Denver Post. It made another cool purchase in December 1997, buying Continental Freezers of Illinois.
Prologis, Inc. was incorporated on November 24, 1997.
1997: Acquisitions build refrigerated warehouse business in the United States and Europe.
In late 1997, AMB became a public company via an initial public offering, with more than US$2.8 billion under management.
The June 1998 purchase of Hatfield, Pennsylvania-based Rosenberger Cold Storage Cos. increased SCI's cold holdings by 27 percent, reported the Denver Post.
1999: ProLogis acquires Meridian Industrial Trust in a $1.5 billion deal.
In 1999, the company sold its retail business to focus solely on the industrial sector.
Continuing Expansion Beyond 2000
ProLogis debuted a new line of business in the spring of 2000, Equipment Services.
2001: ProLogis enters the Japanese market.
ProLogis (formerly ProLogis Trust) owned or managed assets worth more than $10 billion in 2002--more than 1,700 properties in North America, Europe, and Asia.
Annual revenues rose 15 percent from $523 million to $679 million in 2002.
The company made its first overseas investment in 2002, developing a facility for Procter & Gamble.
In 2004, ProLogis acquired Keystone Industrial Trust for $1.5 billion.In the same year, ProLogis formed its first joint venture in China with Suzhou Logistics Center Co.
AMB added an internal development division in 2004.
With headquarters in Aurora, Colorado, at the time, in 2005 ProLogis completed a merger with Catellus Development Corporation, a North American industrial development company, for $4.9 billion.
In 2006, ProLogis became a Fortune 1000 company and the ProLogis European Properties Fund became a public company.
In the midst of problems with debt following aggressive expansion and heavy borrowing, ProLogis' CEO Jeffrey Schwartz was replaced with Walter Rakowich in 2008.
It sold its China operations and some of its Japanese interests to GIC Private Limited for $1.3 billion in 2009.
The Blackstone Group bought a portfolio of assets from the company in late 2010 for $1 billion.
In January 2011, the company sold a portfolio of Catellus retail and mixed-use assets to affiliates of TPG Capital for $505 million, including rights to the Catellus name.
In November 2012, the company sold a 1.98 million square portfolio in Minneapolis–Saint Paul for $96.6 million.
AMB completes its equity offering, fortifying the balance sheet and securing projected capital needs through 2012.
On February 14, 2013, Nippon Prologis REIT, Inc. (NPR), a Japanese real estate investment trust formed by Prologis, successfully completed an IPO on the Tokyo Stock Exchange.
In 2014, the company acquired a 117,600 square foot warehouse in Hanover, Maryland for $8.65 million. and two industrial buildings in Charlotte, North Carolina for $17.5 million.
At the end of 2014, Prologis owned 2,853 properties, with the bulk in North America and around 600 in Europe and Asia.
In March 2015, the company acquired an 18-acre development site in La Vergne, Tennessee for $2.35 million.
The company began construction on a three-floor warehouse in Seattle, Washington, in November 2016, which was the first multi-story warehouse in the country.
In December 2016, Prologis received two 2016 Eurobuild CEE Awards.
In 2016, the company acquired 40 acres in Denver, and sold an 800,000 square foot distribution center in Etna Township, Licking County, Ohio leased to Amazon.com for $89 million.
In November 2017, the company sold a 12-building business park in Fremont, California for $72 million.
In August 2018, the company completed the $8.5 billion acquisition of DCT Industrial Trust.
In November 2019, the company acquired land in Polk County, Florida for $10 million for a warehouse to be leased to Amazon.com.
It completed the $13 billion acquisition of Liberty Property Trust in January 2020.
Prologis began releasing a series of special reports on the industrial impact of the COVID-19 pandemic in early 2020, noting that an increase an e-commerce would likely result in companies increasing their inventories, in turn increasing the demand for warehousing.
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Prologis competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Mack-Cali Realty | 1997 | $350.0M | 283 | - |
| Kimco Realty | 1958 | $2.0B | 484 | 22 |
| Highwoods Properties | 1978 | $736.9M | 200 | 9 |
| First Industrial Realty Trust | 1994 | $669.6M | 100 | 8 |
| Federal Realty Investment Trust | 1962 | $1.2B | 313 | 9 |
| Healthcare Realty Trust | 1992 | $534.8M | 338 | 55 |
| Trizec Properties | 1960 | - | 667 | - |
| PS Business Parks | 1990 | $174.2M | 155 | - |
| Colliers International | 1976 | $21.0M | 15,000 | 178 |
| CapStar Bank | 2008 | $141.1M | 397 | - |
Prologis history FAQs
Zippia gives an in-depth look into the details of Prologis, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Prologis. The employee data is based on information from people who have self-reported their past or current employments at Prologis. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Prologis. The data presented on this page does not represent the view of Prologis and its employees or that of Zippia.
Prologis may also be known as or be related to Prologis, Prologis Trust Inc, Prologis, Inc and Prologis, Inc.