Prologis, Inc.
Company History
Prologis History: Founding, Growth & Key Milestones
Founded 1983 in San Francisco, California, United States
When was Prologis founded?
Prologis was founded in 1983 in San Francisco, California, United States by Hamid R. Moghadam, Douglas Abbey and T. Robert Burke, making it 43 years old.
- Founded
- 1983
- Founding place
- San Francisco, California, United States
- Founders
- Hamid R. Moghadam, Douglas Abbey and T. Robert Burke
- Headquarters today
- San Francisco, California, United States
- Milestones documented
- 12 (1983–2026)
- Current CEO
- Dan Letter
- Acquisitions
- 4
| Year | Event |
|---|---|
| 1983 | AMB founded in San Francisco |
| 1991 | Security Capital Industrial Trust Founded |
| 1997 | AMB Property Corporation IPO |
| 2005 | Jeffrey Schwartz becomes CEO |
| 2008 | Walter Rakowich becomes CEO |
| 2011 | AMB and ProLogis merge |
| 2015 | KTR Capital Partners Acquired |
| 2018 | DCT Industrial acquisition |
| 2020 | Liberty Property Trust acquisition |
| 2022 | Duke Realty acquisition |
| 2025 | Record lease signings and CEO succession announced |
| 2026 | Dan Letter becomes CEO; guidance raised |
- Where was Prologis founded?
- Prologis was founded in San Francisco, California, United States in 1983.
- Who founded Prologis?
- Prologis was founded by Hamid R. Moghadam, Douglas Abbey and T. Robert Burke.
- When did Prologis start?
- Prologis was founded in 1983.
- How old is Prologis?
- Prologis is 43 years old as of 2026.
Founding Story
AMB was founded in San Francisco in 1983 by Hamid Moghadam, Douglas Abbey and T. Robert Burke as an investment manager for institutional real estate. It went public as AMB Property Corporation in 1997 and focused on industrial property in supply-constrained markets. ProLogis, a separate Denver-based developer, had built a large international warehouse network. The two merged in 2011, keeping the Prologis name with Moghadam leading the combined company.
Founders
Hamid R. Moghadam
Moghadam co-founded AMB in 1983, took it public as AMB Property Corporation in 1997 and led the 2011 merger with ProLogis. He served as CEO of the combined company until December 31, 2025, and continues as executive chairman. Hamid R. Moghadam was born in 1956 in Tehran. Education: Aiglon College. Moghadam was born on August 26, 1956 and is an Iranian and American executive and philanthropist. He led the 2011 combination of AMB, which he co-founded in 1983, with ProLogis.
Douglas Abbey
Douglas Abbey co-founded AMB Property Corporation (which merged with ProLogis) in 1983 alongside Hamid Moghadam and T. Robert Burke. Recognizing the massive, untapped potential in institutionalizing industrial real estate, he helped pioneer the strategy of raising massive pension fund capital to buy up fragmented warehouses near major airports and seaports. (Exact birth year remains publicly undisclosed).
T. Robert Burke
T. Robert Burke co-founded AMB Property Corporation in 1983. As a highly experienced real estate attorney, he structured the incredibly complex early investment vehicles that allowed massive institutional investors to gain exposure to industrial real estate, fundamentally transforming the asset class. (Exact birth year remains publicly undisclosed).
Key Milestones
AMB founded in San Francisco
Hamid Moghadam, Douglas Abbey and T. Robert Burke start AMB as a real estate investment manager for institutional clients.
Source: sec.govSecurity Capital Industrial Trust Founded
Security Capital Industrial Trust, later renamed ProLogis, was founded in 1991.
Source: en.wikipedia.orgAMB Property Corporation IPO
AMB lists on the NYSE as a REIT and increasingly concentrates on industrial property in high-barrier markets.
Source: sec.govJeffrey Schwartz becomes CEO
Jeffrey Schwartz became CEO of Prologis in 2005. Chief executive of Prologis from 2005 to 2008.
Source: en.wikipedia.orgWalter Rakowich becomes CEO
Walter Rakowich became CEO of Prologis in 2008. Chief executive of Prologis from 2008 to 2012.
Source: en.wikipedia.orgAMB and ProLogis merge
AMB Property Corporation and ProLogis combine in a merger of equals, keeping the Prologis name.
Source: en.wikipedia.orgKTR Capital Partners Acquired
Prologis and Norges Bank bought the real estate assets of KTR Capital Partners in 2015 for about $5.9 billion.
Source: en.wikipedia.orgDCT Industrial acquisition
Prologis acquires DCT Industrial Trust in an all-stock deal valued at about $8.4 billion including debt.
Source: en.wikipedia.orgLiberty Property Trust acquisition
Prologis completes its all-stock acquisition of Liberty Property Trust, valued at roughly $12.6 billion including debt.
Source: en.wikipedia.orgDuke Realty acquisition
Prologis acquires Duke Realty in an all-stock deal valued at about $26 billion including assumed debt.
Source: ir.prologis.comRecord lease signings and CEO succession announced
Prologis announces in February that Dan Letter will succeed Hamid Moghadam as CEO, and later reports 2025 as a record year for lease signings.
Source: ir.prologis.comDan Letter becomes CEO; guidance raised
Letter takes over as CEO on January 1, 2026. In July, Prologis raises 2026 Core FFO guidance to $6.22-$6.30 per share after Q2 Core FFO of $1.63.
Source: ir.prologis.comMajor Acquisitions
Keystone Industrial Trust
2004Prologis acquired Keystone Industrial Trust in 2004 for $1.6 billion.
Catellus Development Corporation
2005Prologis acquired Catellus Development Corporation in 2005 for $3.6 billion.
ProLogis and AMB merger
2011AMB Property Corporation and ProLogis combined in a 2011 merger of equals, uniting AMB's infill, high-barrier logistics platform with ProLogis's larger global footprint.
Duke Realty
2022Prologis acquired Duke Realty in an all-stock transaction valued at about $26 billion including assumed debt, adding 153 million square feet of operating properties across 19 major US logistics markets plus 11 million square feet of in-progress development.
Keep researching Prologis
Prologis Company History FAQ
What are the major historical milestones in the evolution of Prologis, Inc.?
Key historical milestones include the 1983 founding of AMB in San Francisco, the 1991 founding of Security Capital Industrial Trust (ProLogis) in Denver, AMB's 1997 IPO, the strategic pivot to 100% industrial logistics in 1999, the transformative 2011 AMB/ProLogis merger, the $8.5B DCT acquisition in 2018, the $13B Liberty Property Trust acquisition in 2020, the $26B Duke Realty mega-merger in 2022, and surpassing 1.2 billion square feet globally.
How did the rise of global container shipping and e-commerce reshape the company in the 1990s and 2000s?
As containerized maritime trade exploded and early e-commerce retailers emerged, Prologis recognized that modern supply chains required taller ceiling clearances, wider truck aprons, and advanced ESFR fire suppression systems located near intermodal rail and sea terminals, sparking a multi-decade warehouse modernization boom.
How did Prologis handle the 2008 Global Financial Crisis?
Legacy ProLogis suffered balance sheet strain during the 2008 crash due to heavy development debt, prompting leadership restructuring. Meanwhile, AMB maintained strong liquidity, setting the stage for the historic 2011 merger that united both companies under AMB's conservative capital management.
How did Prologis pioneer the Strategic Capital co-investment fund model?
Beginning in the late 1990s, Prologis created private co-investment real estate funds with sovereign wealth and institutional pension funds, proving that industrial real estate could generate recurring institutional asset management fees alongside direct property rents.
What role did Prologis play in modernizing European and Asian logistics?
Prologis expanded into Western and Central Europe in the late 1990s and established pioneering joint ventures in Japan (Nippon Prologis REIT) and China, bringing institutional-grade modern distribution parks to emerging consumer economies.
How did the COVID-19 pandemic accelerate Prologis's growth in 2020-2022?
The pandemic pulled forward five years of e-commerce penetration in months. Retailers rushed to build resilient 'just-in-case' inventory buffers, pushing Prologis portfolio occupancy above 98% and driving double-digit annual rent growth across all major markets.
How has Prologis expanded beyond traditional real estate into clean energy infrastructure?
Recognizing that logistics facilities hold the largest flat commercial rooftop footprints in the world, Prologis launched Prologis Essentials to deploy commercial rooftop solar, EV charging microgrids, and battery storage systems, leading the corporate energy transition.
What is Prologis's long-term vision for the future of global supply chains?
Prologis is transforming logistics parks into integrated clean-energy, data-driven, and automation-ready distribution ecosystems, empowering global enterprises to operate resilient, net-zero, and cost-efficient supply chain operations.
When and where was Prologis founded?
Prologis traces its modern roots to 1983 in San Francisco, California, when Hamid R. Moghadam and Douglas D. Abbey founded AMB Property Corporation, alongside legacy ProLogis (originally Security Capital Industrial Trust) established in 1991 in Denver, Colorado.
When did AMB Property Corporation and ProLogis merge?
In June 2011, AMB Property Corporation and ProLogis executed a transformative $14 billion merger of equals, creating the world’s preeminent logistics real estate investment trust under the Prologis name with Hamid Moghadam as CEO.
What was the foundational "infill" real estate strategy developed by AMB?
Under Hamid Moghadam in the late 1990s, AMB exited suburban shopping centers and office parks to concentrate exclusively on "infill" industrial distribution facilities located close to coastal population centers, deep-water ports, and international airports.
How did legacy ProLogis expand internationally in the 1990s and 2000s?
Security Capital / ProLogis pioneered pan-European and Asian logistics development, constructing master-planned distribution parks across the UK, France, Germany, Japan, and Mexico to serve expanding multinational supply chains.
What major multi-billion-dollar acquisitions shaped Prologis post-merger?
Prologis completed a series of landmark acquisitions, including DCT Industrial for $8.5B in 2018, Liberty Property Trust for $13B in 2020, Industrial Property Trust for $4B in 2020, and Duke Realty for $23B in 2022.
How did the rise of e-commerce transform Prologis’s tenant demand?
The expansion of Amazon, Walmart, and omni-channel retailers dramatically accelerated demand for modern high-cube fulfillment warehouses, requiring up to three times more logistics square footage per dollar of online sales compared to brick-and-mortar retail.
When did Dan Letter become CEO of Prologis?
In 2026, longtime Prologis President Dan Letter transitioned to the Chief Executive Officer role, succeeding legendary co-founder Hamid Moghadam, who transitioned to Executive Chairman of the Board.
How has Prologis expanded beyond traditional real estate into energy and data centers?
In recent years, Prologis launched Prologis Energy Solutions (deploying over 1 gigawatt of rooftop solar and battery storage), fleet EV charging infrastructure, and converted power-rich logistics parcels into high-demand AI data center campuses.
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