Moghadam says SF ‘stuck’ as ridicule mounts
Prologis founder takes to TV to double down on call for crackdown
The Real Deal recently shed light on Prologis CEO Hamid Moghadam, his plans for the world’s largest industrial landlord, and recent events that led him to sound off about the state of San Francisco.
Moghadam recently added to discussions about the city’s future in an interview with CBS.
“This city has a special place for us because we started our business here,” he told the outlet. Now, he said, “I get all kinds of San Francisco jokes when I travel the world. It’s almost embarrassing and that’s the perception and that affects tourism and convention business. A lot of jobs are involved. Once you go over the tipping point, it becomes very, very difficult to getting it back.”
Today, Prologis controls a $180 billion portfolio that spans more than 1 billion square feet. Its 2021 revenues were $4.8 billion, with profits of $3.2 billion. It’s headquartered at Pier 1 the Embarcadero.