first i'd like to go through the prologis property. they own 4.1 acres of property located on two blocks. we, last year, negotiated a purchase option that was reviewed and approved by the board of supervisors. that purchase option basically locks the terms, including price of the acquisition. the purchase price is $38.5 million plus closing costs not to exceed $40 million. the condition of the property is wild land and being sold as is. the closing date will be between may 1st and may 31st, pursuant to the purchase option that expires at the end of may. the other key terms of the transaction were locked by the purchase option which was approved by the board and supervisors and it's pretty standard with city acsgrigss. -- acquisitions. the port acquisition is a little atypical because of some conditions that i will explain in just a brief moment, but basically the port of san francisco owns a triangular section of railroad remnant of 28,000 square feet. they also own griffith street which is a paper street approximately 38,400 square fe

so you take prologis, stock at almost all-time highs. you love it here meanwhile the transports are doing poorly they have labor and fuel costs to contend with, but what macro signal am i supposed to take from this? does it tell me e-commerce activity overall is strong and that's a good sign for the market and the economy that's what it sounds like >> yeah. we've got consumers that are in a really strong position on average. they've adjusted through covid they like the buy things online. they're working from home in some cases and some cases working in the office. but folks have a lot of income, and money to spend, and money in the bank on average. and so, again, i think e-commerce is a trend that's not going away i think it's getting stronger, and i think the real estate involved in e-commerce is a safe way to play it >> prolgis versus the transports gives me something to think about. it's great to have you on today. >>> still ahead, shares of twitter are climbing again after yesterday's 27% gain on news of elon musk becoming the larges

stocks like cramer fav prologis.arehouses and fulfillment centers all over the world. this thing has been on a tear since late february, and for good region. first quarter relative humidities turned in an excellent said of numbers. there were some truly standout figures when you drill down a bit more prologis saw operating income grow by 8.7% management raised the full-year forecast dramatically. i am a big believer in this one because we simply don't have enough specialized logistic facility, even as e-commerce continues to take share from brick and mortar retailers that means prologis can afford to raise rents whenever they build a new facility it's pretty much sold out long before it's completed. i'm talking with hamid moghadam. mr. moghaddam, welcome back to "mad money." >> it's great to be with you >> i'm looking at the numbers. i don't know where to start. i can start with the shortage of highly specialized logistics i mentioned that before with you. i can talk about the almost no vacation it is but i want to g

hiding out for the year, axa, a french insurance company has a 6.2% dividend yield >> joe t >> long prologis rising ib venn torys has to be stored somewhere that's the logistics that prologis provides. >> don't like the delivers like old dominion, but the deliverers >> correct >> this may surprise but you cash >> and sarat >> comcast multiples down to 11 times earnings i expect a strong quarter with good cash flow from the cable subs >>> i'll see you in ot the exchange is now. >>> welcome to another ugly session in the day the nasdaq is down 5% in two days the s&p is below a key trading level and the dow transports are down almost 20% from the highs late last year so what's the play book now? we'll ask. all of this as we await the fed's minutes from their last meeting just an hour away. the markets are bracing for a very aggressive fed. what are their plans for the balance sheet and for rate hikes? we'll try to get some more

of property, on behalf of the fire department to: 1) execute a purchase and sale agreement with prologisp. to purchase real property located at 1236 carroll avenue for a purchase price of $38,500,000 plus closing costs, for a total cost not to exceed $40,000,000; 2) execute a memorandum of understanding with the port to transfer jurisdiction of real property located at 1236 carroll avenue at fair market value plus closing costs, for a total cost not to exceed $6,000,000; 3) place both properties under the jurisdiction of the fire department; and 4) adopt the planning department's findings >> the chair: thank you so much. we will take this item same house same call. seeing no one on the roster. without objection, this resolution is adopted unanimously. madam clerk, please call item 13. >> clerk: item 13 is an ordinance amending the administrative code to establish the shelter grievance advisory committee to advise the department of homelessness and supportive housing regarding policies and procedures for clients of city-funded shelters to appeal denial of shelter services; and to codify t

of property, on behalf of the fire department to: 1) execute a purchase and sale agreement with prologisp. to purchase real property located at 1236 carroll avenue for a purchase price of $38,500,000 plus closing costs, for a total cost not to exceed $40,000,000; 2) execute a memorandum of understanding with the port to transfer jurisdiction of real property located at 1236 carroll avenue at fair market value plus closing costs, for a total cost not to exceed $6,000,000; 3) place both properties under the jurisdiction of the fire department; and 4) adopt the planning department's findings >> the chair: thank you so much. we will take this item same house same call. seeing no one on the roster. without objection, this resolution is adopted unanimously. madam clerk, please call item 13. >> clerk: item 13 is an ordinance amending the administrative code to establish the shelter grievance advisory committee to advise the department of homelessness and supportive housing regarding policies and procedures for clients of city-funded shelters to appeal denial of shelter services; and to codify t