Key Stats
Founded: 1983 (as AMB Property Corporation); 2011 (current form)
Headquarters: San Francisco, California
CEO: Dan Letter (since January 2026)
Employees: Approximately 2,000 worldwide
Stock Symbol: NYSE: PLD
Prologis, Inc. is a real estate investment trust (REIT) headquartered in San Francisco, California. The company specializes in logistics real estate, owning and operating warehouses and distribution centers that support global supply chains.
With approximately 1.3 billion square feet of logistics facilities in 20 countries, Prologis is the largest industrial real estate company in the world. The company serves about 6,500 customers across North America, Latin America, Europe, and Asia.
Prologis provides end-to-end logistics solutions including property development, leasing, building maintenance, and solar energy infrastructure. Its Essentials division offers customers forklifts, racking systems, EV charging, and other logistics equipment.
Prologis History
1983
AMB Founded
Hamid Moghadam and Doug Abbey found Abbey, Moghadam and Company in San Francisco. T. Robert Burke joins in 1984, establishing AMB Property Corporation as an investment manager for institutions.
1991
Security Capital Industrial Trust
The predecessor to ProLogis, Security Capital Industrial Trust (SCI), is incorporated. The company focuses on developing and acquiring industrial real estate properties.
1997
AMB Goes Public
AMB Property Corporation completes its initial public offering, going public with more than $2.8 billion under management.
1998
ProLogis Name Adopted
Security Capital Industrial Trust changes its name to ProLogis Trust. That year, the company acquires Meridian Industrial Trust for $862.5 million in stock.
2005
Catellus Merger
ProLogis merges with Catellus Development Corporation for $3.6 billion, adding a North American industrial development platform to its portfolio.
2011
AMB-ProLogis Merger
AMB Property Corporation and ProLogis merge to create the world’s largest industrial real estate company with $46 billion in assets. The combined company takes the Prologis name.
2018
DCT Industrial Acquisition
Prologis acquires DCT Industrial Trust for $8.4 billion, expanding its distribution center portfolio in key U.S. markets.
2022
Duke Realty Acquisition
Prologis acquires Duke Realty for $23 billion, the largest commercial real estate transaction in the U.S. since the pandemic began.
Prologis Co-founders
Hamid Moghadam
Born August 26, 1956, in Iran. Moghadam earned engineering degrees from MIT and an MBA from Stanford. He co-founded AMB Property Corporation in 1983 and led it through its IPO and subsequent merger with ProLogis in 2011. He served as CEO until January 2026 and continues as executive chairman.
Douglas Abbey
Co-founded AMB Property Corporation with Moghadam in 1983. Abbey brought real estate expertise to the partnership and helped establish the company’s investment strategy. He left AMB in 2005 to teach at the Stanford Graduate School of Business, where he and Moghadam first met.
T. Robert Burke
Joined Moghadam and Abbey in 1984, completing the founding team of AMB Property Corporation. Burke helped establish the firm’s initial investment focus on office, industrial, and community shopping center properties for institutional investors.
Prologis Acquisitions
Prologis has grown through a series of acquisitions that have consolidated the industrial real estate sector. The company’s merger and acquisition strategy has made it the largest logistics REIT in the world.
The 2011 merger between AMB Property Corporation and ProLogis created an industrial real estate giant with over $40 billion in assets. This deal combined two of the largest industrial REITs and established the company’s global presence across four continents.
In 2015, Prologis acquired KTR Capital Partners and its affiliates for $5.9 billion through a joint venture with Norges Bank Investment Management. The following year, the company launched Prologis Ventures, its venture capital arm focused on logistics technology investments.
The 2018 acquisition of DCT Industrial Trust for $8.4 billion added high-quality distribution centers in major U.S. logistics markets. Two years later, Prologis acquired both Liberty Property Trust for $13 billion and Industrial Property Trust for $4 billion.
The company’s largest deal came in 2022 with the $23 billion acquisition of Duke Realty. This transaction added 153 million square feet of operating properties across 19 major U.S. logistics markets and was the biggest commercial real estate deal in the U.S. since the pandemic began.
Prologis Revenue
Prologis generated $8.20 billion in revenue for fiscal year 2024. The company’s revenue has grown substantially over the past decade, driven by e-commerce demand and strategic acquisitions that expanded its logistics portfolio.
Prologis Marketcap
Prologis has a market capitalization of approximately $131 billion as of February 2026. The company is one of the largest REITs in the world and is included in the S&P 100 index.
Prologis Competitors
Prologis competes in the global industrial real estate market. While the company holds approximately 20% market share in key logistics hubs, it faces competition from other industrial REITs, private equity real estate firms, and regional logistics property owners.
| Company | Headquarters | Focus |
|---|---|---|
| Goodman Group | Australia | Logistics properties in Asia-Pacific, Europe |
| Blackstone | United States | Private equity logistics portfolio |
| Rexford Industrial Realty | United States | Industrial properties in Southern California |
| STAG Industrial | United States | Single-tenant industrial properties |
| EastGroup Properties | United States | Industrial properties in Sunbelt markets |
| First Industrial Realty Trust | United States | Industrial and logistics facilities |
| Americold Realty Trust | United States | Temperature-controlled warehouses |
| Lineage Logistics | United States | Cold storage warehouses |
| Terreno Realty | United States | Industrial properties in coastal markets |
| GLP Capital Partners | Singapore | Global logistics facilities |
FAQs
What does Prologis do?
Prologis owns, operates, and develops logistics real estate including warehouses and distribution centers. The company leases facilities to customers who use them for storage, fulfillment, and distribution.
How big is Prologis?
Prologis owns approximately 1.3 billion square feet of logistics facilities in 20 countries. The company serves about 6,500 customers and has a market capitalization exceeding $130 billion.
Who is the CEO of Prologis?
Dan Letter became CEO of Prologis in January 2026. He succeeded co-founder Hamid Moghadam, who retired from the CEO role after more than 40 years and continues as executive chairman.
Is Prologis a REIT?
Yes, Prologis is a real estate investment trust (REIT) that trades on the New York Stock Exchange under the symbol PLD. As a REIT, the company is required to distribute most of its taxable income to shareholders.
Who is Prologis’ largest tenant?
Amazon is Prologis’ largest tenant, occupying approximately 46 million square feet of warehouse space. Other major customers include DHL, FedEx, Home Depot, and Unilever.
