Denver-based ProLogis has invested $8 million in Carlsbad, Calif.-based PhatPipe Inc., a broadband provider for industrial property owners and tenants. In addition, PhatPipe awarded ProLogis $8 million in preferred stock for a non-exclusive license of the ProLogis Operating System.
PhatPipe and ProLogis will install a combination of digital subscriber line (DSL) and wireless technologies that support PhatPipe's EverOn Access broadband service.
With ProLogis, PhatPipe continues to ally itself with a number of heavy hitters in the industrial marketplace. Other PhatPipe investors include San Francisco-based AMB Property Corp.; First Industrial Realty Trust and CenterPoint Properties Trust, both of Chicago; and San Mateo, Calif.-based Glenborough Realty Trust Inc.
