Prologis Plans Logistics Expansion in the State of MexicoBy Jorge Ramos Zwanziger | Thu, 02/11/2021 - 18:54
Prologis, an industrial space and distribution center supplier in Mexico, will invest more than MX$9 million (US$450,000) in 2021 in the expansion and construction of industrial parks in the State of Mexico, reports T21. Alfredo del Mazo, Governor of the State of Mexico, met with President of Latin America’s Division at Prologis, Luis Gutiérrez Guajardo, and other company representatives to advance “projects that contribute to the economic growth of the state, that promote investment and offer development opportunities to families in the State of Mexico,” said del Mazo, according to Milenio.
Prologis’ investment will be used in the construction of three parks: Park Lanera in Cuatitlan Izcalli, Park Laurel in Cuatitlan and Prologis Park Laguna in Huehuetoca. It will also support an expansion at Prologis Park Grande in Tepotzotlan."These projects will allow for the creation of around 7,000 new jobs for families in the Valley of Mexico region. They will promote the sustainable development of industrial plants and will be economic drivers in the area," said del Mazo, according to T21.
The company has been in the State of Mexico since 2000 and has supported the state’s goal of becoming the most important logistics hub in the country. “We entered 2021 with optimism and confidence,” commented Tom Olinger, CFO of Prologis, to FreightWaves. The company had a positive 2020, particularly during its second half thanks to a strong demand it expects will continue in 2021, reports FreightWaves.
E-commerce requires up to three times the space that traditional retail distribution operations need, so Prologis estimates that the increase in e-commerce will require space increments over the next several years. “The pandemic has pushed global supply chains to their limits. Increased e-commerce adoption and the rebuilding of inventories to meet consumer demand are structural forces in the logistics environment that will take years to play out,” said Prologis Chairman and CEO Hamid Moghadam in the company’s 4Q20 press release.
Prologis in Mexico is characterized by its sustainable spaces, which prioritize the use of clean energy, water savings and responsible waste management. Last year, for example, the company issued green bonds in Mexico for a total of US$375 million dollars in a 12-year term, reported RealEstateMarket. The money gathered from these bonds was used to make investments in greener installations, as well as in-company projects that take advantage of renewable sources of energy to increase efficiency. "Prologis has proven since 2014 that sustainability and a strong, well-diversified property portfolio are the best strategies to lead the logistics and real estate sectors," the company told RealEstateMarket.