Senior vice president of ProLogis
Q: What is the business climate like right now in Central Pennsylvania for distribution facilities ProLogis invests in?
A: No one can argue that the current economic climate slows real estate business. Yet, for every downturn, there is an upswing. The market will turn around eventually, and we will find ourselves breathing a bit easier, in Central Pennsylvania and across the nation.
Q: Why does ProLogis do business in Central Pennsylvania?
A: Central Pennsylvania remains an attractive market for our customers for several reasons: availability of land, strategic location with its access to road networks to serve the population densities of the Northeast corridor. Additionally, it also serves as a compelling alternative to the land-constrained markets in New Jersey.
Q: What’s the key to success in this business?
A: Patience, perseverance and, above all, customer service.
Q: What are a few of the biggest challenges?
A: I’d say the most important thing to remember is to keep thinking about the long term. Our industry is tied to longer-term dynamics and is historically less volatile than other real estate sectors. A big reason for this is because the need for distribution space is often fueled by globalization and free trade, which are elements that stay in play regardless of the economic situation in one or two countries.
Q: Are there any lasting trends you see happening or developing in the industry?
A: We’re going to see more green developments and renewable energy projects. I don’t think anyone would be surprised to hear this prediction; green topics are everywhere you look. And at ProLogis, we have been well- versed in these practices for years, stemming from our presence in Europe. We predict that soon enough the standards for sustainable construction will be raised to a new level, and companies will be challenged to account for carbon emissions and other environmental impacts of their projects in a truly holistic manner.
About Paul D. Loosmann
Syracuse, N.Y., native Paul D. Loosmann joined ProLogis in 2004 as vice president and market officer in Baltimore and Washington, D.C.
Loosmann graduated from the University of Rochester with a bachelor’s degree in political science and earned his management certificate in marketing from the William E. Simon Graduate School of Business.
Loosmann was named senior vice president of ProLogis in July 2005. He directs the Northeast region for the company and is responsible for operational management in the New Jersey, Pennsylvania, Maryland, Virginia and Canadian markets.
Loosmann, his wife and two young daughters live in Bucks County. He likes to golf, fish and travel in his free time.
ProLogis topped the Business Journal’s list of real estate investment trusts owning property in Central Pennsylvania.