Dan Letter

At the start of 2026, Dan Letter took the reins of a platform that’s already unmatched in scale.

Succeeding longtime leader Hamid Moghadam, Letter stepped into the CEO role at Prologis, a $230 billion real estate investment trust and the world’s largest industrial landlord. And, already, Letter has overseen more record-setting activity while Prologis reinforces its dominance in both traditional logistics and the burgeoning data center sector.

Prologis opened 2026 by signing 66.7 million square feet of leases in the first quarter alone — one of the strongest quarters in the company’s history. And it maintained occupancy above 95 percent across its global portfolio.

That followed a landmark 2025, when the firm closed a record 228 million square feet of tenant deals, including one of the largest new leases of last year in the nation’s largest industrial market: a 615,000-square-foot commitment from Amazon in Southern California.

Letter is also driving Prologis’ aggressive pivot into energy and infrastructure. The REIT started $1.3 billion in data center projects in the first quarter of 2026, and it is expanding its power capacity to 5.7 gigawatts, with another 14,000 acres of land now banked for data center and energy-related development.

“Advantage today is defined by location, power and scale,” Letter told investors this April. “We are well equipped to develop critical infrastructure few can match.”

Prologis’ deal-making has also remained relentless. In March 2026, Prologis formed a $1.6 billion joint venture with Singapore’s sovereign wealth fund to target build-to-suit logistics projects across the U.S. Weeks later, Letter announced a $1.17 billion partnership with pension fund La Caisse to target acquisitions across France, Germany and the U.K.

On the disposition front, in April the firm capitalized on high valuations by selling a $196 million warehouse portfolio in South Florida to Blackstone’s Link Logistics. That represents a roughly 337 percent increase in value since acquiring those properties in 2010.

With first-quarter 2026 revenue hitting $2.3 billion and development starts projected to reach up to $4.5 billion for the year, Letter is steering a 1.3 billion-square-foot ship that has become essential to the modern economy.