Through investments in innovation and technology, we are creating new ways to meet the needs of our customers.
2019 was a great year for our business, with demand outpacing supply. Mexico’s industrial/ logistics real estate market was the top performer in the Mexican stock market, and uncertainty surrounding USMCA and the country’s new administration dissipated.
Our business is designed to meet the needs of our customers and ensure diversity in both our markets and customer rosters. As an example, as of the fourth quarter 2019, no single customer accounted for more than 3.6 percent of our total net effective rent and the top ten accounted for 19.8 percent.
In 2019, we received an A- rating from CDP, a nonprofit that manages disclosure systems for environmental programs, placing us in the top 5 percent of all organizations globally.
For the third consecutive year, we were included in the Dow Jones Sustainability MILA Pacific Index.
We obtained silver BOMA certifications for 17 buildings; this program recognizes best practices, energy efficiency and carbon footprint reduction.
Our sponsor, Prologis, continues to design 100 percent of its buildings to sustainable certification standards where applicable and incorporates sustainable design features to meet our customers’ specifications.
As we publish this report, millions of people around the world continue to struggle amid the COVID-19 pandemic. As part of our response, the Prologis Foundation has committed US $5 million toward a global relief fund focused on food security, public health and economic recovery. In Mexico, the Foundation has committed funds to the Banco De Alimentos Cáritas to provide food for individuals and families in need.
Looking forward, we are confident in our long-term business strategy. We are prepared for times of uncertainty and will maintain vigilance over how we run our facilities, manage our portfolio and meet our customers’ needs. We are grateful for the trust our certificate holders have placed in us and will work diligently to reward that faith.
