A Prologis warehouse. Credit - Courtesy Prologis
Uncertain times are good for Prologis, the world's largest industrial property company, whose 1.3 billion square feet of warehouse space in 20 countries serve 6,700 customers including Walmart, Amazon, FedEx and Pepsi. In 2024 it beat expectations to earn $8.2 billion in revenue. And this year is shaping up to top that; when a global pandemic or fluctuating international trade policies threaten the supply chain, companies find comfort and stability by stockpiling inventory. “We’ve found that when there’s disruption in the supply chain, for whatever reason, our customers have historically taken more space,” says president Dan Letter. “You go from the just-in-time concept to the just-in-case.” With rooftop solar arrays to generate energy for clients (helping them meet carbon-reduction goals), it has become the second-largest corporate generator of on-site solar in the U.S. with plans to have 1 gigawatt of solar and battery storage by the end of 2025, and has even added logistics services like charging for customers’ electric vehicle fleets. Prologis is also converting some warehouses into data centers, helping to meet that surging demand.
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