Kim Snyder and Kevin Apel
President of West region; senior vice president and Inland Empire market officer at Prologis
It’s somewhat ironic that Prologis isn’t exactly a “household name” (especially in relation to its tenants), but consumer products and other goods currently in homes and offices around the U.S. were likely either made or delivered through a Prologis warehouse.
Prologis is the largest owner of industrial space in the nation. The San Francisco-based real estate investment trust boasts that 2.8 percent of the world’s gross domestic product — or 5.6 percent of global household consumption — flows through a Prologis property. Put another way, $2.7 trillion of goods produced or sold in the world in 2022 went through Prologis facilities, which is a 23 percent increase from 2020.
To find an example of the firm’s ability to capitalize at the highest scale, you have to go back to late June of this year, when Prologis bought nearly 14 million square feet of industrial space from Blackstone for $3.1 billion. The portfolio includes assets in major markets around the country — including in Southern California, the firm’s biggest market — such as a FedEx distribution facility that sold for almost $97 million.
While a majority of the economy appears to be slowing, Prologis said the splash deal advances its growth plan. And it comes a year after the firm put down $26 billion to buy Duke Realty and its properties. Thus, running operations for Prologis’ West Coast and Southern California operations is particularly vital to the supply chain, e-commerce and commercial real estate.
Kim Snyder is responsible for all activities for Prologis’ West region. He’s a product of Prologis’ merger with AMB Property Corporation in 2011. Meanwhile, Kevin Apel runs operations in the Inland Empire — the most in-demand market in the nation — overseeing the company’s 78 million square feet in 193 properties in the region east of Los Angeles. Perhaps most noteworthy, Prologis is building a 4.1 million-square-foot warehouse in the Inland Empire that will be Amazon’s largest warehouse in the nation.
Prologis owns 1.2 billion square feet of logistics real estate in 19 countries, with another $38 billion of development underway. The firm says the full global economic impact of operations in its warehouses is $315 billion.
