Prologis

In nineteen ninety-nine, warehouses were real estate. A building cost five million and sat on land. The owner collected rent and hoped property values climbed. The business was passive. Amazon changed nothing about warehouse economics. It only made them valuable. Suddenly, location mattered more than the building. A warehouse in the wrong spot was worthless Prologis acquired land near city centers, not downtown. Five to ten miles from dense populations. The land cost less than downtown but closer than suburbs. Amazon needed to deliver packages within two days. Warehouse location determined whether they could. Prologis owned the physics of logistics and delivery. They owned the distance. Nobody else could compete By twenty twenty, Prologis owned one billion square feet of warehouse space.