Prologis Under Way on 1M SF
Prologis Northwest Region president Scott Lamson, right--on what must be blue button-up shirt day--isbuilding a 1M-plus SF distribution center for Amazon on nearly 90 acres in Prologis Park Tracy Phase II. (Above, he and investment associate Darren Kenney review site plans at the firm's HQ.)When completed this fall, Phase II--2.2M SF on 150 acres--will be fully occupied. But Scott tells us the firm owns additional land for development in that marketplace, which he calls a key, strategic location for Prologis' growth in NorCal. He notes that Tracy is close to the Bay Area's population base, with easy access to Sacto and up and down the Central Valley.
While Amazon's fulfillment center might be large by Tracy standards, it may not be Prologis' biggest building here for long. Scott's seeing an increased trend toward larger users who require bigger floorplates due to supply chain changes and new distribution networks as well as demand driven by e-commerce--not just in the Central Valley but across Prologis' US portfolio. Places like this fit the bill because it's not easy to find vacant land parcels big enough close-in to population bases. In terms of market characteristics, he says, the Central Valley is to the Bay Area what the Inland Empire is to SoCal. Outside of work, Scott's a sportsaholic, and that includes spending time in a high school gym watching his daughter play basketball.