Hamid Moghadam, chairman and chief executive officer of San Francisco-based industrial REIT Prologis, says that the business is doing better than it has at any point in his career. Prologis saw earnings rise 14 percent last year, and Moghadam expects to see a 17-percent jump this year.
Globally, Prologis has 81 projects under development at a total cost of $2.7 billion. The United States is the leading market for new facilities, followed by Japan, Europe and Mexico.
He also revealed that e-commerce is a huge driver for industrial tenancy right now, and that Amazon is the one tenant that takes up the most space in Prologis’ portfolio, accounting for 2.5 percent of gross leasable area.