Prologis touches 40% of US trucks

Craig Fuller said on May 15 that roughly 40% of U.S. trucks “bump” a Prologis facility each month, recirculating a statistic that puts a hard number on the warehouse owner’s reach across domestic freight flows. Prologis has not framed itself as a trucking company, broker or third-party logistics provider. It is a logistics real estate company, but its network is large enough that truck traffic through tenant buildings has become a proxy for how much of the U.S. distribution system passes through its footprint. Fuller, the founder of FreightWaves, said that share is larger than any 3PL or carrier. ### Where does the 40% figure come from? Craig Fuller’s post points to a Prologis operating statistic rather than a government freight census. The figure refers to monthly truck touchpoints at Prologis facilities — trucks arriving at, departing from or otherwise servicing buildings in the company’s network — not a claim that Prologis controls 40% of freight transportation revenue or owns 40% of trucking capacity. Prologis has described itself as sitting at the center of goods movement for years. In its 2022 shareholder materials, the company said 2.8% of global GDP passed through a Prologis warehouse, and its latest Oxford Economics-backed impact report said $3.2 trillion of goods moved through Prologis facilities in 2024, equal to 2.9% of global GDP. ### How big is Prologis in physical terms? Prologis said in its first-quarter 2025 supplemental report that it owned or had investments in properties and development projects totaling about 1.3 billion square feet across 20 countries as of March 31, 2025. (threadreaderapp.com) The same filing said the company served about 6,500 customers and had 5,884 buildings. In the United States, Prologis said it had about 800 million square feet, representing 86% of net operating income in that same period. (prologis.com) That concentration matters because the truck-touch statistic is a U.S. measure, and the domestic portfolio is where most of the company’s earnings are generated. ### Why would a landlord show up in truck traffic data at all? Warehouse networks shape trucking routes because trucks go where freight is stored, sorted and handed off. (ir.prologis.com) Prologis leases logistics facilities to business-to-business customers and retail and online fulfillment tenants, meaning the buildings act as transfer points for inbound and outbound freight rather than passive real estate. Hamid R. Moghadam, Prologis’ co-founder and chief executive, said in the company’s 2024 supply chain report that “supply chain capabilities are crucial for business success,” tying the company’s property network to broader operating decisions by customers. That is Prologis’ own framing for why its facilities matter beyond rent collection. ### Does 40% of trucks mean 40% of freight? (ir.prologis.com) The 40% figure should be read narrowly. A monthly truck “touch” is a facility interaction, not a measure of tonnage, shipment value, trailer count, miles driven or market share in for-hire trucking. A single truck can visit multiple facilities in a month, and a high-frequency distribution network can generate repeated touches from the same carrier or vehicle. The statistic shows breadth of contact with truck traffic, not exclusive control over freight flows. (ir.prologis.com) Oxford Economics’ Prologis work offers the broader economic context. Its 2024 report tied Prologis facilities to $3.2 trillion in goods flow and 3.6 million jobs globally, which is a separate measure from truck visits but supports the idea that the company’s properties sit inside a large share of commercial activity. ### What do Prologis’ latest results say about the network now? (ir.prologis.com) Prologis said on April 16, 2026 that first-quarter net earnings per diluted share rose to $1.05 from $0.63 a year earlier, while core funds from operations per diluted share rose to $1.50 from $1.42. The company said the quarter delivered record leasing and expanded its data center platform. The company’s investor relations site lists its most recent public milestones, including first-quarter 2026 results released on April 16 and its 2026 stockholders meeting held on April 28. (ir.prologis.com) Prologis also posted a May 2026 investor presentation on its IR site, which is where the company’s next updated operating metrics are most likely to appear before second-quarter earnings. (ir.prologis.com 1) (ir.prologis.com 2)