GlobeSt.com reports that Jeffrey Schwartz has resigned as chairman and CEO of Denver-based ProLogis. Schwartz should be familiar to CRE folks in Florida because he was co-founder of Krauss/Schwartz Co. in Tampa, which ProLogis bought in 1994.
Schwartz is credited with having a big role in growing ProLogis internationally over the past 14 years, but now it appears the industrial REIT is going in a new direction that includes scaling back development and cutting costs. Where Schwartz lands, and what kind of parachute he gets, will likely be reported in weeks to come.
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