DENVER-ProLogis, based in Denver, has invested $16 million in PhatPipe Inc., a real estate technology company that targets industrial properties with high-speed Internet access, data and Web hosting services, local and long distance telephone service, as well as computer equipment, office supplies and furnishings.

ProLogis is one of the nation’s largest industrial REITs, controlling 1,664 distribution facilities worldwide. ProLogis’ portfolio includes 185.2-million sf of distribution facilities owned, managed or under development.

“Historically, customers located in industrial settings have had few choices for Internet access, often sacrificing speed due to high cost,” says Dan Ankeny, president and CEO of Carlsbad, CA.-based PhatPipe. “We believe the market for broadband sales within the under served US industrial sector is approximately $11 billion, while the potential represented by the portfolios of our committed partners is nearly $300 million. Obviously, there is a tremendous opportunity to further penetrate this sizable market.”

Under the agreement, ProLogis will invest $8 million in PhatPipe preferred stock, representing an equity position of 19.85% upon closing. In addition, ProLogis will receive $8 million in PhatPipe preferred stock, representing another 19.85% ownership interest.

ProLogis will support PhatPipe as its preferred B2B e-marketplace and provider of broadband services. “We are currently working with ProLogis to evaluate its North American portfolio of over 1,300 distribution facilities and determine which other distribution parks represent the most strategically attractive markets for our services,” Ankeny says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.