Prologis, U.S. Logistics Titan, Plans a Staggering €6.4 Billion Investment in France

Prologis, the logistics giant, plans to invest a total of 6.4 billion euros in France over the coming years. This announcement was made at the Choose France summit on Monday, May 19, where they revealed an addition of 2.9 billion euros to the previously disclosed 3.5 billion euros at the AI Summit a few weeks earlier. Specifically, one billion euros will fund 750,000 m2 of logistics spaces in cities like Paris, Lyon, Marseille, and Le Havre, among others, by 2028. These additional warehouses are expected to create 3,200 direct jobs and 2,400 indirect jobs, according to Prologis.

The remaining 5.4 billion euros will be allocated to the creation of four data centers, another area of activity for the investment fund. These data centers, located in the Ile-de-France region, are expected to become operational gradually until 2035, with a total capacity of 584 megawatts (MW) and the creation of 400 direct jobs and 3,000 indirect jobs. Among the projects funded by this new investment is the Connect logistics hub: a total of 67,000 m2 spread over five floors in the ZAC Clichy-Batignolles, costing a modest 400 million euros (for the land). The goal is to be as close as possible for deliveries in the capital.

However, Prologis’s presence in France is not new. During its first 20 years, the investment fund, headquartered in San Francisco, primarily grew in the United States. In 2002, the logistics specialist arrived in France and has gradually developed its operations there. In 2015, Prologis acquired KTR Capital Partners, which also specialized in logistics. Over the following years, other players in the sector joined Prologis, which gradually became a true giant.

In France, the investment fund also expanded its portfolio of logistics buildings, reaching 123 warehouses totaling 3.13 million square meters at the beginning of 2022, when it announced plans to increase its French surfaces by 50% within two years. Already established in several major French cities, the group then launched new projects. Among these was a 44,400 m2 warehouse in Douvrin, Pas-de-Calais, on a former PSA site. The American fund also bets on buildings equipped with cutting-edge technologies to limit their carbon footprint. In October 2021, Prologis delivered Monoprix its giant warehouse of 100,000 m2 in Moissy-Cramayel, Seine-et-Marne, which at the time was “the world’s first carbon-neutral logistics platform,” with 150,000 tons of CO2 neutralized. Recently, the company has also embarked on projects to electrify urban delivery fleets.

Today, Prologis manages 147 warehouses in France, representing 3.4 million m2. While the giant has not doubled its surfaces, it continues to strengthen its presence in France, driven by its “confidence in the long-term potential of the country,” highlighted Hamid Moghadam, the group’s CEO. France remains a relatively small market compared to the 125 million square meters Prologis owns globally.

The sustained interest of one of the global leaders in logistics — with a turnover of 8.2 billion dollars (7.3 billion euros) in 2024 — in France demonstrates the country’s potential, particularly in the data center construction sector. This investment is welcome, especially in the context of a 14% decrease in foreign investment projects compared to 2023, although France remains the leading European country in this field.