ProLogis CEO at ULI: E-Commerce Needs Warehouses
E-commerce isn't slowing one bit and needs warehouse space and fulfillment centers--three times that of traditional brick-and-mortar retail, says ProLogis CEO Hamid Moghadam (and co-chair of the 2015 ULI Fall Meeting steering committee). New biz may fluctuate in their need for space but tech can help owners and operators make sure that their assets are being used to their full potential, he says. If you own scarce assets that are well located, someone will be able to extract more utilization from them, he adds. Earlier this year, Facebook purchased a 21-building, 56-acre industrial park next to its growing HQ from ProLogis and plans to turn it into a live/work/play environment.