The National Association of Industrial and Office Properties (NAIOP), the nation's leading trade association for developers, owners, investors, and other professionals in industrial, office, and mixed-use commercial real estate, today announced that ProLogis is the winner of the organization's coveted 2005 Developer of the Year award.
"ProLogis' ability to succeed in this challenging business environment is a great testament and validation of the company's business strategy, strategic vision, and ability to execute," said Joseph Taylor, NAIOP national chairman and president and CEO, Matrix Development Group in New Jersey. "ProLogis' unwavering focus on its customers is one factor that allows the company to deliver the consistent, long-term performance that has become its hallmark."
The 2005 Developer of the Year award will be presented to Jeffrey Schwartz, chief executive officer of the Aurora, CO-based company, on Wednesday, Oct. 19, during NAIOP's 2005 Annual Conference in Hollywood, FL. Schwartz and one of ProLogis' key clients will each deliver an address during a special luncheon to honor the company.
"ProLogis is honored to receive the distinguished Developer of the Year award," said Schwartz. "Our global distribution model enables us to provide state-of-the-art, customized distribution solutions to companies in 75 markets worldwide, and it has given us the competitive edge to succeed in today's global economy. It is truly an honor to be recognized by our peers for this award."
Given annually to one developer nationwide that best exemplifies leadership and innovation in the commercial real estate industry, the Developer of the Year award is determined by a five-member selection committee of industry peers that uses six criteria to evaluate entries: industry and business leadership, involvement in NAIOP, quality of products and services, financial consistency and stability, ability to adapt to market conditions, and social consciousness. Past winners of the award include United Properties Trust, Colonial Properties Trust, Lowe Enterprises, Opus, and Stiles Corp.
As the world's largest provider of distribution facilities, ProLogis' global platform has enabled the company to bring scale, service diversity, and superior logistics and supply chain services to its clients. For example:
- In North America, ProLogis is active in 42 markets, encompassing 1,700 facilities and 236 million square feet.
- In Europe, ProLogis is active in 27 markets, encompassing 61 million square feet.
- And in Asia, ProLogis is active in six markets, encompassing 14 million square feet.
In total, the fast-growing company owns or manages more than 2,043 distribution facilities serving more than 4,100 customers in 75 markets worldwide. The company also recently announced it is acquiring Catellus Development Corp., a leading industrial player with 36 million square feet of industrial property under management, for $4.9 billion, including assumed liabilities and expenses.
ProLogis' client list includes some of the world's largest corporations, including FedEx, UPS, Home Depot, General Electric, Nippon Express, and Unilever, among others. Illustrating the company's broad geographic reach, ProLogis serves three of its top 10 customers on three continents.
In 2004, ProLogis started development on 19 million square feet of distribution space for a total investment of $1.2 billion. In 2005, the company expects to start construction on $1.3 to $1.4 billion of distribution facilities.
Uncompromising Industry and Community Involvement
The NAIOP selection committee found that ProLogis demonstrates a strong commitment to the industry through its consistent support and leadership of NAIOP at the local and national levels.
ProLogis staff members are active participants in NAIOP's chapters throughout the country. For example, Larry Harmsen, ProLogis senior vice president and regional director, was the 2004 NAIOP Southern California chapter president. Five other ProLogis executives serve as board members of five other NAIOP chapters.
Indicative of the company's commitment to the community and the sprit of "giving back" is the company's "adoption" of a local elementary school, where ProLogis volunteers help to mentor and teach students. In addition, since 2001, the company has been working with Share Colorado to provide food baskets to families in need. The company also participates in many fundraising programs, such as Boys and Girls Clubs of Metro Denver, the Colorado Coalition for the Homeless, the Special Olympics of Colorado, Colorado Energy Assistance Program, and the Day of Caring for Breast Cancer Awareness.
ProLogis' sprit of giving extends as far as the company's business reach. After the catastrophic tsunami destroyed town and villages across the Indian Ocean, ProLogis held its first worldwide employee matching program to raise funds for several non-profit groups involved in providing relief.
"One of ProLogis' guiding principles is that in addition to being a profitable business enterprise, we will contribute to the communities in which we live and work," said Schwartz.