Jeffrey Schwartz, CEO of Global Logistics Properties Ltd. and former Tampa Bay executive, died this week at age 55. Jeffrey H. Schwartz. GLP completed a US$2.5 billion agreement with a group of Chinese state-owned enterprises and financial institutions in September, which gave them a 33.8% stake in GLP China. VIRTUALLY EVERYCEO SPENDS A GOOD DEAL OFhis or her time thinking about China: how to penetrate the countrys vast market, whether to source more production there, how to fend off competition from Chinese rivals. [65] At that point,The Economistnoted that Prologis' business strategy was focused on warehouses that are located close to huge urban areas where land is scarce. "I am personally grateful to Dane for the many years of leadership and Its easy to say work hard and be disciplined, but those are givens, Schwartz says. [14] In January 2011, the company sold a portfolio of Catellus retail and mixed-use assets to affiliates of TPG Capital for $505 million, including rights to the Catellus name. [73] The study was updated in December 2022, reporting a 23% increase over 2020, with $2.7 trillion of goods either produced or sold worldwide passing through Prologis facilities, representing 2.8% of the global GDP with an economic impact of $300 billion. Business Services News - Service Industry News - Services Industry News today that its Chairman and Chief Executive Officer Jeffrey H. Schwartz has Theres almost no functional obsolescence. [68][69], In October 2022, the company acquired Duke Realty. Total returns and value of stock owned (including all classes) is based GlobeSt.com: Whats the outlook for ProLogis? Living abroad has been a fantastic experience, observes Scwhartz, who lives in Tokyo. Networks Weve been converting to energy-efficient florescent lighting, and weve converted more than five million sf in North America since the beginning of 06. Found 4 colleagues at ProLogis. [42] Prologis sold a 59-property portfolio to TPG for $375 million. Schwartz: If you define green as being more energy-efficient, as reducing greenhouse gas emissions beyond what is normal, I would argue that 100% of our development would classify as sustainable. We work with more than half of the global 1,000 companies, and the best have their own sustainability initiatives. distribution facilities, with operations in 103 markets across North America, [67], In June 2022, the company acquired the land below California's Great America in Santa Clara, California from Cedar Fair, which leased the land back with plans to close the amusement park by 2033. NM: Not meaningful. Whos doing the subsidizing? | 400 Best Big Companies [62], It acquired Liberty Property Trust in January 2020. Data delayed Before becoming CEO in January, Schwartz spent eleven years spearheading the companys international development in a series of high-level executive positions in Amsterdam, Tokyo, and other cities. After an initial public offering in 2010, GLP grew to become one of the largest providers of modern logistics facilities in China, Japan and Brazil. 100 Richest Business People Vehicles opportunity still ahead of us, I look forward to the continued expansion of since March 1999 and was CEO of the company from 1999 to 2004. Former ProLogis chief executive Jeff Schwartz should feel right at home with his latest business venture. With a good, functional 20-year-old logistics facility, you might put on a new roof and paint it once or twice, but as long as it was designed right in the first place, youll get a rent that is 90% of what youd get for a new building. will remain on the board as lead trustee and will continue to provide counsel GlobeSt.com: We keep hearing that office tenants are asking for green. "With enormous meters) in 2,884 properties as of June 30, 2008. 8Received options or restricted stock in lieu of Terms of Use. pioneering, customer-centric vision for ProLogis has been a primary driver of Archives The operations were rebranded as Global Logistic Properties in March 2009. 9Received options or restricted stock in lieu of Funds During 2001, Mr. Schwartz served as CEO of Vizional Technologies, a supply chain technology firm.Mr. [23], It sold its China operations and some of its Japanese interests to GIC Private Limited for $1.3 billion in 2009. The companys free float is 36.6 percent, while GIC retains a 50.6 percent stake and Lone Pine Capital, a Greenwich, Connecticut, hedge fund firm run by Stephen Mandel, owns 10.11 percent. Sciences and Medicine, Stock Market News - World Markets - Stock Quotes, Bonds [34] In March 2013, Prologis formed the Prologis European Logistics Partners Sarl joint venture with Norges Bank Investment Management for US$3.1 billion. NEW YORK, May 15 (Reuters) - ProLogis said on Tuesday its Chief Executive Jeffrey Schwartz had been named chairman of the companys 12-member board of trustees, effective immediately. for Singles | Best Business strategic guidance he has provided to our company," Mr. Schwartz said. GlobeSt.com: Is there an age past which it no longer makes sense to retrofit? portion of bonus. delay times for all exchanges). We own in excess of 450 million sf of rooftops around the world, so I would argue that we control more solar-panel space on roofs than any private owner on a global basis, and more opportunity for power generation from our roofs than any other product class. Mr. Schwartz received his M.B.A. from Harvard Business School and his B.S., with honors, from Emory University. Market Data powered by [13] and other logistics tech equipment for purchase. NA: Not available or not applicable. Mr. Schwartz serves as head of the Executive Committee, responsible for setting the strategic direction of the company and monitoring its implementation and progress.Prior to becoming Chief Executive Officer in January 2005, Mr. Schwartz served as President of International Operations, in which he oversaw all of ProLogis' international operations and was the Chairman of the International Investment Committee of ProLogis. Economy "I have found that integrity is important, too. [15][16] The company first expanded outside the United States in 1996 with acquisitions in Mexico[15] and in 1997 it acquired properties in both Mexico and Europe. DENVER, Oct. 3 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today that its Chairman and Chief Executive Officer Jeffrey H. Schwartz has been elected to Emory University's Board of Trustees. Its a little more expensive to build a higher-quality building, but we are building a long-term sustainability business on a global platform. AGENCIES. Schwartz: This is a rare opportunity to do good and do well at the same time. matters under an advisory services agreement. RT=Real-Time, EOD=End of Day, [9] Prologis began to expand its non-real estate business, Essentials, in 2022, offering customers solar power, racking systems, forklifts, generators,[12] and EV charging infrastructure. [48], In June 2015, Prologis partnered with Norges Bank Investment Management to buy KTR Capital Partners for $5.9 billion, expanding Prologis' real estate portfolio in the United States through the Prologis U.S. "Prologis, Inc. REIT Profile"; REIT Notes; accessed February 6, 2022. See here for a complete list of exchanges and delays. The Denver-based operator of distribution and warehouse facilities made the announcement at its annual meeting of shareholders. It has helped me recognize that sometimes the American way of doing things is not always the best way, but we do a lot of things great. Schwartz shared his experiences with students during a visit to Goizueta late last year. You can spend a lot more money than that. "We are pleased to have someone of Jeff's stature, who brings experience Emerging Markets Enterprise Tech Schwartz: Governments. They guarantee you a price for the power you generate thats a premium over what they normally pay for a conventional source of power, and that allows you a decent return. Mr. [16] SCI invested in the Netherlands in the summer of 1997 and then expanded into Paris, Stockholm, Brussels, Warsaw, London, Berlin, Milan, and Madrid. Everyone here is looking for efficiency, which is what I like about our business; its all about productivity and efficiency, not glamour. We use it right at the dock door where trucks will sit and idle. [17] In November 1998, Prologis Trust acquired Meridian Industrial Trust for $862.5 million in stock. 10Includes shares indirectly held. SCI officially changed its name to ProLogis in July 1998. Most executives would love to be plotting their strategy from the vantage point of Jeffrey Schwartz. [46], Prologis had reduced its number of managed funds from 23 to 11 by the spring of 2015, and was managing "$29 billion in real-estate assets through joint ventures and a series of funds backed by institutional investors. Contact Information Primary Position Chairman & Chief Executive Officer, Prologis (Acquired in 2011) Education Harvard Business School, MBA (Master of Business Administration) Not only did Jones teach him accounting, he also introduced him to his wife, Carol 83BBA, whom Jones recommended as a potential Arthur Andersen recruit. January 18, 2023. . Schwartz: No, as long as the building is functional. SINGAPORE Mr Jeffrey Schwartz, co-founder and deputy chairman of Singapore-listed Global Logistic Properties (GLP), passed away on Wednesday, the company announced yesterday. Investment Newsletter - Financial Newsletters - Stock Newsletter GlobeSt.com: How do we stack up against other nations in terms of sustainability initiatives? & Paychecks | Midas List Special GlobeSt.com: Are they asking for specific requirements? [39] In November 2013, Prologis announced plans to spend "as much as $600 million a year to develop warehouses in Japan," its biggest market after the United States, where it had customers such as Amazon.com and Nippon Express. on overall strategy, global expansion, board nominations and governance ProLogis ranked first in the 2005 Top 25 Industrial Owners survey. worldwide. Data delayed [54] The following month, Prologis also outlined plans to build a three-story warehouse in San Francisco. 15 minutes unless otherwise indicated (view Theres nothing superb about that, but its acceptable because youre doing good at the same time. From a global competitive standpoint we need to do it. The EU is light years ahead of us in reducing carbon emissions and putting in place incentives and rules concerning sustainability. Business today is about data: generating it, identifying it, culling it, collating it, analyzing it and monetizing it. That firm grew into the largest warehouse and distribution facilities in Florida before merging with ProLogis in 1993. during ProLogis' annual meeting of shareholders, held earlier today at the under development, comprising 542.3 million square feet (50.4 million square manufacturers, retailers, transportation companies, third-party logistics The deals tap outside capital to fuel GLPs growth and generate a new stream of fee income. 2Four-year total. Forbes.com: Management. Schwartz: They should, but now its taking place just in California. GLP completed a $2.5 billion. But chairman and chief executive officer Jeffrey Schwartz begs to differ, and here too the REIT has worked to gain some impressive bragging rights. The purpose is to contain potentially harmful toxic vapors from affecting people in new construction.