Prologis Promotes Read Mortimer to Lead N.J. Investments

Prologis (PLD), the largest industrial landlord in the U.S., has promoted Read Mortimer to lead its capital deployments in New Jersey.

Mortimer has 18 years of experience in the real estate industry and most recently served as Prologis’ investment officer in Lehigh Valley, where he was responsible for the firm’s capital deployment activities in Pennsylvania, according to an announcement.

Mortimer has already started in his new role as senior vice president and investment officer in New Jersey and will oversee all capital deployment activities in the New Jersey region, the announcement said.

“Prologis’ state-of-the-art facilities are the gold standard for clients across the region, bringing important jobs, investment and economic activity to New Jersey and beyond,” Mortimer said in a statement. “I’m particularly excited to continue our track record of responsible and sustainable development that represents the future of our industry.”

Before joining Prologis in 2022, Mortimer did stints as senior vice president at Rubenstein Partners and vice president at Starwood Capital Group. He also held various positions with TA Realty, Mesa West Capital, Overton Moore Properties and law firm King & Spalding, according to the announcement.

During his career, Mortimer has been involved in more than $5.5 billion of real estate transactions — including acquisitions, debt originations and portfolio management — and more than 32.5 million square feet of commercial properties, the announcement said.

Mortimer’s promotion comes during a busy year for Prologis, which manages a portfolio valued at nearly $200 billion, as Commercial Observer previously reported.

Last month, the company paid $76.5 million for a 232,500-square-foot industrial property in Northern Virginia. In January, Prologis acquired a 10-acre site in Greenpoint, Brooklyn, from ExxonMobil for $122 million, The Real Deal reported.

The company also saw a leadership switch in February, when Prologis co-founder Hamid Moghadam announced he would step down as CEO and be replaced by Dan Letter, CO reported.

Isabelle Durso can be reached at idurso@commercialobserver.com.