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The US-based real estate company Prologis has closed 2024 with 120 million square metres in 20 countries, including properties, investments and assets under development. According to its figures, 2.8% of the world's Gross Domestic Product passes through its facilities. In line with industry developments, it invests in modern, low-emission buildings, self-generation of renewable energy and electric vehicle chargers, as well as other capabilities.

 

Six years have already passed since one of its largest transactions in Spain, when the company bought 18 buildings from Colonial for 425 million euros, thereby gaining 57 logistics assets. It currently has 86 facilities in its Spanish portfolio, where it maintains an occupancy rate of 93.5%. It is now announcing the next investment, in the medium term, to start new developments on the 167,000 square metres of land it owns in the central part of the country.

 

 

What were Prologis' first steps in Spain?

Prologis started its operations in Spain in 1998 with the aim of developing logistics and warehousing space. The company mainly focuses on developing and acquiring logistics parks in strategic locations where consumption and Gross Domestic Product generation are concentrated, such as Madrid, Barcelona and Valencia, which are key points for national and international distribution. Its first steps in the country involved developing large-scale, flexible and modular buildings, focused on industries like retail distribution and e-commerce. By 2007 it had already managed to consolidate its position in the country's main logistics locations. As a result of its continued expansion, it has positioned itself as a major player in the real estate market.

 

How important is Spain in the company's strategy?

Spain plays an important role in terms of both business expansion and investment strategy in the logistics real estate sector. It is an ideal platform for national and international trade and distribution due to its strategic location as a gateway for goods entering and exiting Europe. The business-friendly environment, its population growth and the country's constant demand for logistics infrastructure make it a very attractive market for investment.

 

How many people work for Prologis in Spain?

Prologis had a workforce of around 2,700 employees worldwide in 2024. In Spain, in particular, we currently have a workforce of 26 people, which is a very significant figure in terms of efficiency and productivity relative to our AUM (assets under management). The growth of the workforce has always gone hand in hand with the growth of the company, maintaining operational excellence and offering the best experience to our customers.

 

What projects do you have in the pipeline for this year?

This year we are tackling the objective of remaining at the forefront of the industry, reinforcing our strategy of sustainable growth and added value. With regard to new projects, we have 167,000 square metres of land available to start new medium-term developments in the central part of the country. We have a great deal of experience in developing turnkey projects which, together with our desire to support our clients in their development and growth, makes us the perfect partner for developing logistics spaces throughout Spain as part of tailor-made projects (built to suit).

 

Will you also grow through other types of transactions?

Prologis is a company with an international presence that will continue to focus on sustainability, digitalisation and talent; putting its customers and users at the centre of its business; working to increasingly improve the supply chain, and all of this being achieved by working with a great team of professionals who form the pillar of the company. In terms of evaluating other types of transactions or purchases, we are always alert to the market, and an important part of the growth we have achieved over more than 40 years of experience has been through purchasing assets and portfolios, as well as other platforms.

 

What is your customer profile?

Prologis builds, leases and manages modern logistics facilities around the world, enabling our customers to optimise their supply chain. Some of the company's customers belong to industries that are related to logistics operations, distribution, e-commerce and parcels, manufacturing, automotive, consumer products and retailers, among others. Furthermore, we go far beyond the logistics asset itself, and have moved from being a purely real estate company to offering value-added services. In 2020 we launched Essentials, a platform that offers a wide range of state-of-the-art warehouse solutions to meet the logistics challenges of today and tomorrow, and which is built on four pillars: operations, energy, mobility and people.

 

How did the immologistics industry's race to achieve sustainability begin?

The company approaches sustainability as an investment that generates shared value. Sustainability has always been one of Prologis’ values and pillars. This is reflected in the investments made over the years. One of Prologis' major sustainable projects is Net Zero 2040, a programme committed to achieving zero carbon emissions by 2040 throughout our value chain. The social part of ESG, which for Prologis is our team, the users and customers of our parks, as well as the community around us, is a fundamental pillar. Having a positive impact on this environment and ensuring the well-being of users is a priority for the company. With our PARKlife philosophy, we promote this culture of well-being through partnerships with local organisations, charity campaigns and activities, events and workshops for employees working at our assets. We are on the other hand aware that logistics companies are sometimes challenged by a lack of logistics talent and a shortage of specialised professionals. Against this backdrop, together with the University of Barcelona and the Sant Boi de Llobregat City Council, we are promoting Logistics Training in Motion (LTIM), a training programme that offers university micro-credentials, and with three different courses whose content is adapted to the current needs of companies and the logistics industry.

 

What have been your most important investments in Spain to date?

Since our arrival in Spain in 1998, we have consolidated our leadership and presence in the main markets, something which has allowed us to have strong representation in the main goods distribution corridors at prime locations in Spain, and by using the format of logistics parks. Prologis has made numerous investments in projects that have led us to lead the industry in our country, hand in hand with our clients. Examples of this include the construction of Prologis Park San Boi, Prologis Park San Fernando and Prologis Park Valencia. Another important asset due to its characteristics is Sant Boi DC7. This project is a commitment to converting obsolete spaces, avoiding building from scratch and promoting circular architecture and economy. This strategy enables the carbon footprint to be significantly reduced, in line with sustainable principles and energy efficiency. This investment also demonstrates the commitment to sustainable development and optimising existing infrastructure.

 

^{Photos: Prologis}