Prologis, the global behemoth in warehousing space operating nearly 3000 units across the globe, is now getting ready to unveil a multi-storied warehouse soon in the United States. According to a report recently published in The Wall Street Journal, the company has planned to build a three floor structure which will offer nearly 6 lakh square foot space near Seattle. The construction of this defining warehouse is expected to begin next year and it will be ready by 2018 end.
Prologis is believed to have taken this decision in response to the paucity of land space resulting in extreme escalation in their prices. “Major urban areas are running out of industrial space. The only way the logistics sector can compete is with this more dense format.” Hamid Moghadam, chief executive of Prologis has been quoted as saying in the report. This will be the first multi-storied warehousing unit in the US.