Financial Tools - Stock Trading Tool - Investing Tool - Planning Tools University alumnus, will start his six-year term this fall. [66], In September 2017, in partnership with Oxford Economic Papers, the company determined that $1.3 trillion-worth of goods were transferred through its buildings annually and that the company and its customers had a total annual economic impact of $200 billion. When Government of Singapore Investment Corp. (GIC) bought the companys Asian properties for $1.3 billion in 2008, Schwartz moved to the new business as deputy chairman and chairman of the executive committee; his colleague Ming Mei, whom Schwartz had recruited to launch Prologiss China business in 2002, joined him as CEO. ProLogis' customers include Manufacturing News - Supply Chain News - Manufacturing Industry News | 400 Best Big Companies [51], Prologis formed its venture capital arm in March 2016 and had made 20 investments by late 2019. Living abroad has been a fantastic experience, observes Scwhartz, who lives in Tokyo. Schwartz: I guess. shareholders approved the audit committee's engagement of KPMG LLP as the Restaurants | World's DENVER, Oct. 3 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today that its Chairman and Chief Executive Officer Jeffrey H. Schwartz has been elected to Emory University's Board of Trustees. . DENVER, May 15 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's As Schwartz pointed out in a recent exclusive interview, ProLogis is the only real estate firm to join the Chicago Climate Exchange (and a visit to that website bears this out) and in May became the first real estate company to issue a sustainability report as an adjunct to its annual report to shareholders. Terms of Use. PD=Previous Day. [16] That year, AMB initiated an international expansion program focused on buying and developing distribution facilities near global trade hubs, particularly in growth markets such as Brazil, Mexico, and China. You can spend a lot more money than that. [52] By late 2016, Prologis had built large multistory warehouses in Japan, Singapore and China. Prologis, Inc. is a real estate investment trust headquartered in San Francisco, California that invests in logistics facilities. Schwartz: I could go through a number of build-to-suits for which we were selected because of our sustainable technology and expertise. [35] In August 2013, in partnership with The Blackstone Group the company acquired a 17 million square foot portfolio for $960 million from Lehman Brothers. A Philadelphia native with a Harvard Business School MBA, Schwartz rose up the ranks at Prologis, a San Franciscobased warehouse owner, becoming chairman and CEO. You disclose that your investments in and advances to these entities . Thats why we use it so sparingly. People arent going to pay a huge premium over their core requirement. In addition to the I worry about the macro economy. "We are pleased to have someone of Jeff's stature, who brings experience You need to make sure your reputation lasts, and to make a choice to associate with good people and always surround yourself with people who are responsible and talented. Now the CEO of ProLogis, a $14-billion Aurora, Colo.-based distribution facilities and services provider, Schwartz began his career in the Atlanta office of Arthur Andersen. Exchange trademark and copyright notices. European companies, for the most part, are ahead of US companies in thinking this through and making it an initiative. He resigned from Prologis in 2008. Search Properties Near You Schwartz: Not as high as Id like it to be. I have found that integrity is important, too. Schwartz: This is a rare opportunity to do good and do well at the same time. Future Tech Its why we have buildings that are 20 or 30 years old still leasing for 90% or 95% of a brand new building. distribution facilities, with operations in 132 markets across North America, Accessed October 27, 2022, Why Warehouse Giant Prologis Is Betting Big on Electric Vehicle Infrastructure, "Warehouse Giants AMB Property, ProLogis to Merge", National Association of Real Estate Investment Trusts, "Security Capital tries for name recognition", "Cold Snap: Developers Pour Money Into Cold Storage in China", "Prologis To Acquire Meridian, A Rival Landlord", "Prologis Becomes World's Biggest Industrial Property Company--Now What? The company has $28.6 billion of assets owned, managed and There are a lot of bragging rights associated with the name ProLogis. Subscriptions Logistics Pro Jeffrey Schwartz Places All His Chips on Asia The deputy chairman of Global Logistic Properties Holding is placing a big bet on Chinese consumers by expanding the company's. Methodology: The company owns 6.5 million square meters (70 million square feet) of warehouse space in 29 cities across the Middle Kingdom twice as much as its eight largest competitors combined. Schwartz, who stepped down from his role at ProLogis in November, is helping to. World's Billionaires | Big Bosses In the office sector, a 20-year-old building has to compete against newer assets with more marble and a nicer fountain. But the Chinese get it and theyre catching on. meters) in 2,525 properties as of March 31, 2007. matters under an advisory services agreement. [29] The company also acquired a warehouse in Tolleson, Arizona for $9.95 million. [62], It acquired Liberty Property Trust in January 2020. company's independent auditors for 2007. six-year compensation history. By 2011, AMB was focusing on expanding its operations in China and Brazil. Relative to market is the ending value of $100 invested the business under Jeff's capable leadership.". 2Four-year total. Schwartz succeeds K. Dane Brooksher, who served as chairman since March 1999 and was ProLogis CEO from 1999 to 2004. Lifestyle Services, People GlobeSt.com: Whats the outlook for ProLogis? An airtight building with less leakage of heating or air conditioning is an easy way to save massive amounts of energy and, of course, greenhouse gas emissions. This content is from: Mr. Schwartz received his M.B.A. from Harvard Business School and his B.S., with honors, from Emory University. I keep my fingers crossed that we have enough forward-thinking leaders in Washington to put that together in a short period of time. our growth and global success, and we look forward to his continued [14], In 1983, Hamid Moghadam and Doug Abbey used a $50,000 line of credit to found Abbey, Moghadam and Company,[15] an investment manager serving institutions. under development, comprising 436.9 million square feet (40.6 million square Retirement We own in excess of 450 million sf of rooftops around the world, so I would argue that we control more solar-panel space on roofs than any private owner on a global basis, and more opportunity for power generation from our roofs than any other product class. GlobeSt.com: And whats your faith quotient? [42] Prologis sold a 59-property portfolio to TPG for $375 million. 5Prior-year data. Compensation percent change is based on [66], In April 2021, the company acquired Hilltop Mall in Richmond, California for $117 million. Schwartz: It depends on how green you go. watch the company evolve into a truly global enterprise and establish itself Youre talking about greater surface and roof areas. He figures on riding the wave of development thats spreading to Chinas vast interior from its coastal megalopolises. The company also reported that shareholders elected all 12 members of the Schwartz: It depends on what they want. [22][14] Clients of the new company included DHL, Kuehne + Nagel, Home Depot Inc., Unilever,[14] and FedEx. But what I can control is making sure that we have the strongest balance sheet in the industry, which we do. 7Less than $100,000. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. opportunity still ahead of us, I look forward to the continued expansion of "[45] That quarter, the company sold a Silicon Valley industrial park to Facebook, Inc.[8], With corporate headquarters remaining in San Francisco, in April 2015 Prologis announced a plan to move offices from east Denver, Colorado, to a new building in downtown Denver[47] in 2017. Beyond learning to work with motivated people in a disciplined way, Schwartz says that he learned a lot about business ethics from Jones and other Emory professors. At the time, Prologis was the "largest owner of industrial and warehouse properties in the United States. "We look forward to Jeff's commitment and contribution Mr. Jeffrey H. Schwartz ProLogis June 15, 2007 Page 3 4. Copyright 2023 Mediacorp Pte Ltd. All rights reserved. Schwartz had joined Prologis in 1994 and held various executive roles before being appointed chief executive officer in 2005. [31] The company sold the 10 buildings in Memphis, Tennessee in June 2012. "Prologis, Inc. REIT Profile"; REIT Notes; accessed February 6, 2022. GLP completed a US$2.5 billion agreement with a group of Chinese state-owned enterprises and financial institutions in September, which gave them a 33.8% stake in GLP China. Efficiency rank is based on our chief executive's performance/pay score. ProLogis' customers include Already have an account? Portfolio. Logistics Pro Jeffrey Schwartz Places All His Chips on Asia. Prologis was formed in 2011 through the merger of AMB and ProLogis, both multinational real estate companies based in the United States. Our Standards: The Thomson Reuters Trust Principles. Schwartz: They should, but now its taking place just in California. SINGAPORE Mr Jeffrey Schwartz, co-founder and deputy chairman of Singapore-listed Global Logistic Properties (GLP), passed away on Wednesday, the company announced yesterday. Think Again", "The e-commerce boom makes warehouses hot property", "Warehouse Giant Prologis to Offer More Peripheral Services, CFO Says" by Kristin Broughton; Wall Street Journal; January 26, 2022. Mr Schwartz, who was also a board member of Las Vegas Sands, graduated from Harvard Business School in 1985 with a masters degree in business administration, based on his profile on GLPs website. [30], In February 2012, the company sold a 3.5 million square foot portfolio in the United Kingdom to The Blackstone Group for $335 million. GIC remains the companys largest shareholder, said GLP. Business today is about data: generating it, identifying it, culling it, collating it, analyzing it and monetizing it. manufacturers, retailers, transportation companies, third-party logistics Weve got a strong cash position, low leverage, plenty of availability of capital. 100 Top In addition, Mr. Schwartz served as President and Chief Operating Officer, Asia, in which he had responsibility for the ProLogis Operating System and day-to-day operations in Asia.Previous to this, Mr. Schwartz served as Vice Chairman of ProLogis, where he had responsibility for all International Operations, commencing activities in Mexico in 1996 and Europe in 1997. [36][37] In the fourth quarter of 2013, the company sold 3 warehouses in Tempe, Arizona for $22 million,[38] and acquired a 1.8 million square foot portfolio in Nashville, Tennessee. Business Services News - Service Industry News - Services Industry News Mr. Brooksher Polls & Discussions ProLogis, a real-estate investment trust whose share price has fallen more than 90% this year, also said it would halt its aggressive expansion strategy and slash its dividend by more than half to . [59] It sold the last of its holdings in Memphis, Tennessee,[60] and acquired the Pepsi bottling plant near the Mount Baker station in Seattle for $65 million in September of that year. [14] In 2006, ProLogis became a Fortune 1000 company and the ProLogis European Properties Fund became a public company. combined salary and bonus. It has helped me recognize that sometimes the American way of doing things is not always the best way, but we do a lot of things great. Schwartz shared his experiences with students during a visit to Goizueta late last year. According to Forbes' 2005 list of Executive Pay, Jeffrey H Schwartz, the CEO of ProLogis (PLD) was paid $4.7 mil in total compensation. In our discussion, Schwartz discussed the challenges of building green industrial as well as the business benefits. Market Data copyright 2023 QuoteMedia. portion of bonus. [15], In 1999, the company sold its retail business to focus solely on the industrial sector. largest owner, manager and developer of distribution facilities, announced There are 48 other people named Jeffrey Schwartz on AllPeople. Mobile Access Management: Finding a Home in Commercial Facilities. You dont have any recessed lighting or other expensive lighting features. Schwartz: The opportunities are greater. 001-12846 Dear Mr. Schwartz: . He died aged 55 on Wednesday, 19 November 2014. All quotes delayed a minimum of 15 minutes. It also is the leading warehouse operator in Japan, with 3.6 million square meters of space, which is 99 percent leased. Reports The appointment, which is effective immediately, was announced delay times for all exchanges). since March 1999 and was CEO of the company from 1999 to 2004. Contact Information Primary Position Chairman & Chief Executive Officer, Prologis (Acquired in 2011) Education Harvard Business School, MBA (Master of Business Administration) [46], Prologis had reduced its number of managed funds from 23 to 11 by the spring of 2015, and was managing "$29 billion in real-estate assets through joint ventures and a series of funds backed by institutional investors. I worry about Europe. Although the stock slumped nearly 25 percent in its first year, it has rebounded by roughly two thirds and traded at 2.51 Singapore dollars ($2.03) late last month. Mr. Jeffrey H. Schwartz Chief Executive Officer and Trustee ProLogis 4545 Airport Way Denver, CO 80239 Re: ProLogis Form 10-K for the year ended December 31, 2006 Filed 02/28/07 File No. [49][50], In October 2015, Prologis acquired Morris Realty Associates' portfolio of logistics and retail properties in the United States for $820 million. He spearheaded the companys expansion into Asia beginning in 2002, but that debt-fueled growth became a liability when financial markets crashed in September 2008, and Prologiss share price tanked. Technology News - Information Technology News - Tech News, E-Business portion of salary. stock history. Wine 46.183.219.57 [10] According toThe Economist, its business strategy is focused on warehouses that are located close to huge urban areas where land is scarce. [13] and other logistics tech equipment for purchase. [15], In the midst of problems with debt[22] following aggressive expansion[14] and heavy borrowing,[16] ProLogis' CEO Jeffrey Schwartz was replaced with Walter Rakowich in 2008. [25], In March 2011, prior to the merger with ProLogis, AMB Property formed a 470 million joint venture with Allianz Real Estate. Economy Your article was successfully shared with the contacts you provided. [23], It sold its China operations and some of its Japanese interests to GIC Private Limited for $1.3 billion in 2009. Whos doing the subsidizing? [17] In November 1998, Prologis Trust acquired Meridian Industrial Trust for $862.5 million in stock. Mr. Schwartz was the founder and managing partner of The Krauss/ Schwartz Company, the largest industrial developer in Florida, which was acquired by ProLogis in 1994. on Mar. China may or may not be headed for a hard landing, but it currently has only a fraction of the warehouse space that the U.S. has. Former ProLogis chief executive Jeff Schwartz should feel right at home with his latest business venture. [16] SCI invested in the Netherlands in the summer of 1997 and then expanded into Paris, Stockholm, Brussels, Warsaw, London, Berlin, Milan, and Madrid. Forbes ASAP Footnotes: [14] Completed in June 2011,[16] the merger was one of the biggest real-estate deals since the Great Recession, and it created the largest industrial real estate company in the world. [24], The Blackstone Group bought a portfolio of assets from the company in late 2010 for $1 billion. [16], In late 1997,[16] AMB became a public company via an initial public offering, with more than US$2.8 billion under management. In every country where we developall 22we build to a higher standard than the average building in that market, and with that comes significantly higher energy efficiency. DENVER, May 15 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, today announced that Jeffrey H. Schwartz, chief executive officer, has been appointed to the additional post of chairman of the company's 12-member board of trustees. manufacturers, retailers, transportation companies, third-party logistics 100 Richest Business People It works. http://www.prologis.com. In the twenty-three years since he left Emory, Jeffrey Schwartz '81BBA has learned that success is more than just a matter of hard work. [22] Rakowich afterwards implemented a cost-cutting effort involving raising capital and selling assets. After earning his CPA, he went to Harvard Business School in 1983. Most executives would love to be plotting their strategy from the vantage point of Jeffrey Schwartz. If you can help a GE or Unilever or BMW further their own sustainability initiatives by giving them a better, more sustainable distribution facility, it puts you ahead of the competition. [67], In June 2022, the company acquired the land below California's Great America in Santa Clara, California from Cedar Fair, which leased the land back with plans to close the amusement park by 2033. [41] The company also completed the corporate spin-off of FIBRA Prologis, the company's Mexican affiliate also known as Prologis Property Mexico SA, raising about 7 billion pesos ($541 million). Investing Services And he takes a hard look at how the US is doing generally, and how much more we need to do. See here for a complete list of exchanges and delays. ProLogis, a NYSE company with over $28.6 billion in total market capitalization, has more than 2,525 distribution facilities operating in 103 markets throughout North America, Europe and Asia. What about your clients? Prologis Announces New CFO February 15, 2022 Logistics Real Estate: Highest Demand, Fastest Rent Growth in History Susan Uthayakumar Joins Prologis as Chief Sustainability and Energy Officer Toggle Menu En You are currently on the Prologis global website Global www.prologis.com en Americas Brazil pt en Canada en Mexico es en USA en Funds 10Includes shares indirectly held. One of the companies is still active while the remaining seventeen are now listed as inactive. Performance & security by Cloudflare. Companies Prologis Reports Strong Fourth Quarter and Full Year 2022 Earnings. Since the merger, Schwartz has helped grow ProLogis from a $300 million to $14 billion company that provides distribution space for such delivery giants as UPS, FedEx, DHL, TNT, Unilever, and Procter & Gamble. strategic guidance he has provided to our company," Mr. Schwartz said. It absorbs the carbon, which runs off with the rainwater. Equities, Personal Finance - Personal Finances - Financial Advise, Estate Planning Cloudflare Ray ID: 7c0c5dac88db9933 The company has $34.4 billion of assets owned, managed and under development, comprising 483.0 million square feet (44.9 million square meters) in 2,669 properties as of September 30, 2007. GlobeSt.com: Are we doing anything like it here? Tech Schwartz recently discussed the outlook for the company with Institutional Investor International Editor Tom Buerkle. With some of the newest computer-operated lighting systems were installing you can see a three-to-four-year payback. Sports The EU is light years ahead of us in reducing carbon emissions and putting in place incentives and rules concerning sustainability. Copyright 2023 ALM Global, LLC. In December 2011, GLP teamed up with China Investment Corp. (CIC), the countrys big sovereign wealth fund, to buy 15 logistics facilities in Japan from LaSalle Investment Management for $1.6 billion. Jones, now retired and still living in Atlanta, says that he remembers Schwartz as one of his best students in a good classalways well-prepared, and always ready with a pertinent question. Schwartz was the founder and managing partner of The Krauss/Schwartz Company, the largest industrial developer in Florida, which was acquired by ProLogis in 1994.Mr. Health and Fitness Americans | The | International 500 Weve been converting to energy-efficient florescent lighting, and weve converted more than five million sf in North America since the beginning of 06. Its become a big business driver for us. And Schwartz, who leads the company as deputy chairman and head of its executive committee, is just getting started. "[19] ProLogis formed its first property funds in 1999, and entered the Japanese market in 2001. Prior to this, from 1994 to 1996, Mr. Schwartz had responsibility for all ProLogis Global Development. Health Care News - Healthcare News - Health Care Industry News Sign In Now, First Republic Bank Sold to JPMorgan Chase, Those New Office Building Amenities Come With Legal Risks, Aprils Apartment Rent Growth Hits Several Grim Milestones, W&D Thinks Apartment Deals Will Start Up Again in H2, First Republic Largest Lender to San Francisco Multifamily Sector. By Ashley Gurbal Kritzer - Real Estate Editor, Tampa Bay Business Journal. [45], In March 2015, the company acquired an 18-acre development site in La Vergne, Tennessee for $2.35 million. Best of the Web Im comfortable theyre going to move very rapidly in this area. 10 Regional Powerhouses to Watch: Top Retail Brands Dominating Local Markets. ProLogis' Jeff Schwartz 'The EU is light years ahead of us in reducing carbon emissions.' By John Salustri | Updated on July 27, 2007 With a good, functional 20-year-old logistics facility, you might put on a new roof and paint it once or twice, but as long as it was designed right in the first place, youll get a rent that is 90% of what youd get for a new building. Market Data powered by Your IP: During Schwartz's tenure at ProLogis he led the transformation of the Denver-based shed giant into the largest logistics property company in the world. Compensation rank is based on total compensation for latest fiscal year. RT=Real-Time, EOD=End of Day, DENVER, Oct. 3 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's Forbes/Milken Best Places [16] They were joined by T. Robert Burke in 1984 and established AMB Property Corporation, which invested in office, industrial and community shopping centers on behalf of large institutional investors. ProLogis is now the largest owner of distribution facilities in North America, Europe, and Japan, and is now expanding rapidly into China. Commodities [14] In December 2008, ProLogis sold a portfolio of assets to the Government of Singapore Investment Corporation,[14] which subsequently transformed the assets into Global Logistic Properties. Schwartz: Were in the minor leagues. Archives Additionally, ProLogis' During 2001, Mr. Schwartz served as CEO of Vizional Technologies, a supply chain technology firm.Mr. | China's ProLogis said the chief executive, Jeffrey Schwartz, would be succeeded by Walter Rakowich, who had been president and chief operating officer since 2005, Mr. Rakowich had planned to retire in . Taxes, Collecting [15] AMB launched its first private equity fund in 1989, which focused on industrial and retail properties. Its easy to say work hard and be disciplined, but those are givens, Schwartz says. [65] At that point,The Economistnoted that Prologis' business strategy was focused on warehouses that are located close to huge urban areas where land is scarce. ", "AMB-Prologis Merger Complete - Firm to Expand in China", "ProLogis, a Warehouse Firm, Raises 280 Million Euros", -real-estate-1/prologis-tpg-capital-catellus-development-corp-walter-c-rakowich-ted-r-antenucci-mike-curless-los-angeles-union-station-lauth-co-kelvin-davis-3703.php "ProLogis--TPG $505 Million Deal Closing in First Quarter", "Allianz, AMB form European logistics joint venture", "Prologis to Boost Japan Rents, Buy Warehouses on Abenomics Bonus", "Chicago real estate investor enters market with purchase in Grove City", "Prologis buys Tolleson warehouse for $10 million", "Prologis sells 3.5-million-square-foot portfolio in the U.K. to Blackstone", "Prologis sells Memphis properties in portfolio sale", "Artis REIT scoops up 11-building Prologis package", "Nippon Prologis Jumps in Debut After $1 Billion IPO: Tokyo Mover", "Prologis and Norges Bank Investment Management close EUR2.4bn JV in Europe", "Blackstone, Prologis Said to Buy Portfolio of Warehouses", "Lehman sells industrial properties to Blackstone, Prologis", "Tempe warehouses swap hands in $22 million deal", "Prologis announces purchase of Nashville portfolio", "Prologis pays $8.6 million for Hanover warehouse", "Prologis buys two industrial buildings for $17.5 million", "Prologis Property REIT Unchanged in First Mexico IPO of 2014", "Prologis sells 59 properties throughout U.S. to TPG", "Former Big Lots warehouse sells to Chicago investors", "Prologis to Buy KTR Capital for $5.9 Billion", "Prologis snaps up development site in La Vergne", "Prologis to move Denver ops HQ to Z Block project in lower downtown", "Prologis sells building near current HQ", "Prologis, Norway Buy KTR Real Estate for $5.9 Billion", "Prologis Completes $5.9 Billion KTR Acquisition", "Prologis Completes Acquisition of Industrial Portfolio in Northern New Jersey", "Prologis plan for Bayview offers blue-collar salvation", "Prologis to Build First Multistory Warehouse in the U.S.", "Real estate developer buys 40 acres in central Denver for industrial space", "Amazon distribution center sold in one of Central Ohio's largest deals", "Prologis receives two 2016 Eurobuild CEE Awards", "Investors buy Fremont business park for $72M", "Prologis Completes $8.5 Billion Acquisition of DCT Industrial Trust", "With recent sale of 90 acres, public real estate firm exits Memphis market", "Prologis buys 10-acre Pepsi plant near Mount Baker light rail station", "Industrial developer closes $10M land deal in Polk County", "Prologis Completes $13 Billion Acquisition of Liberty Property Trust", "Prologis Completes $4 Billion Acquisition of Industrial Property Trust", "Prologis buys Miami-Dade development site", "Why a S.F. Jeffrey Schwartz, CEO & chairman of Denver-based global industrial real estate giant Prologis, will resign from his position after nearly four years at the helm. GlobeSt.com: Are the promoted costs of building greenweve heard as low as 3%realistic? Celebrities | 400 Richest Mr. Schwartz succeeds K. Dane Brooksher, who served as ProLogis chairman But traditional images of industrial space comes with images of tractor trailers, grumbling engines and oil stains left in their wake, not the greenest environment one can imagine. Among GLPs largest and fastest-growing clients in China are shipping company Shanghai Nice Talent Logistics Co. and Jingdong Corp., one of the countrys leading online retailers. Investment Newsletter - Financial Newsletters - Stock Newsletter ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 20 countries across North America, Europe and Asia. QuoteMedia. GlobeSt.com: Is it more problematic to build green in warehouse/distribution than in other property classes? This could cut lighting costs by 60% to 80%.