Floor Decor To Open 1 5 Million Square Foot Warehouse At Tradepoint Atlantic Baltimore Business Journal

Posted on July 5, 2022
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A One MILLION Square Foot Warehouse

In this video I'm reacting to the marketing package for 1 million square foot warehouse / distribution center. The property is owned by Prologis, the largest industrial property owner in the world.

I've wanted to make this video for awhile, but it's the perfect time right now as I have a related announcement to make at the end. You can skip straight to the end if you like, but I think you'll enjoy the video and would really appreciate it if you watched it all.

Timestamps:

0:00 - Teeing up the property
0:56 - Property website
1:09 - Key aspects of the site
2:20 - Brochure elements
3:38 - What could be added
5:56 - Why is there no rental rate?
6:40 - Why Prologis is worth following
7:17 - ANNOUNCEMENT!
7:41 - Bloopers galore

Let's go over a quick history of Prologis:

Two separate companies started up a few decades ago, AMB Property Corporation and Security Capital Industrial Trust (SCI).

SCI became ProLogis (note the capital "L") in 1998, continued to grow organically and through a series on acquisitions and joint ventures, ultimately joining the S&P 500 Index in 2003.

But as it grew it was burdened by a considerable amount of debt and the company flirted with bankruptcy in 2008. This is when Jeffrey Schwartz was replaced with Walter Rakowich, who had previously worked on the executive team.

Rakowich led the company back into prosperity, including a monumentus merger with AMB (which is when Prologis dropped the capital "L").

Prologis has continued having considerable organic growth and growth from acquisitions and the company now owns nearly 1 billion square feet of warehousing and distribution space all over the world.

I chose a large property they are currently marketing for lease and provided my thoughts on what works well and areas where they might be able to make some improvements. I recognize their listing team is undoubtedly capable of marketing a property of this magnitude, so I can appreciate if they summarily dismiss this video as the ramblings of a mad man (and if they had any doubt of said assertion, they could just watch the bloopers!)

Link to the marketing package: https://www.prologis.com/industrial-properties/building/cnj00605-prologis-burlington

Disclosure:

I own Prologis stock and may add to or sell my shares without notice. I do not recommend the stock as it seems quite expensive to me but I have done well with the stock and also appreciate the valuable market information they distribute (which is free even if you don't want to own the stock).

I also own a ProLogis Monopoly game, which was released prior to the merger. Sadly the factory seal has a small tear in it. This might mean family game night gets a new addition.


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💻 LinkedIn: https://www.linkedin.com/in/chadgriffiths/

🙋 Chad Griffiths, MBA, SIOR
NAI Commercial Real Estate Inc.

#industrialrealestate #warehouse #distributioncenter

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