Prologis Leases More Than 1.1 Million Square Feet in Three Japan
Development Projects
TOKYO, Nov. 15, 2012 /PRNewswire/ -- Prologis, Inc.
(NYSE: PLD), the leading global owner, operator and developer of
industrial real estate, today announced four new lease agreements
totaling approximately 1.1 million square feet (104,269 square
meters) in its Japan development
portfolio. The transactions include:
- 349,300 square feet (32,450 square meters) with a Japanese
third party logistics provider. This new, 100 percent-leased
build-to-suit is located at Prologis Park Kobe within the
Osaka market and includes a
seismic isolation system. Construction is scheduled to begin in
November 2012; and
- 230,000 square feet (21,400 square meters) with Hitachi
Transport System, a leading third party logistics provider, at
Prologis Park Osaka 4. The building was completed in May 2012 and totals more than 1.1 million square
feet (106,135 square meters); and
- 543,000 square feet (50,450 square meters) in two transactions
with a major third party logistics provider. The first
transaction, for 224,000 square feet (20,800 square meters), is
located at Prologis Park Osaka 4. The second transaction is
located in the Tokyo market at
Prologis Park Zama 2 and totals 319,000 square feet (29,600 square
meters), bringing the total percentage leased to 90 percent, well
ahead of the underwritten lease up. Zama 2 was completed in
August 2012 and is a state-of-the-art
facility with premium safety features, including Prologis' patented
seismic isolation system, electric generators, and a groundwater
remediation system.
"These four transactions, all with long-term customers, speak to
the strength of our customer relationships and our ability to
leverage our unmatched platform to meet their requirements," said
Mike Yamada, president, Prologis
Japan. "We continue to see very strong demand in the Japanese
market and look forward to supporting the ongoing success of our
customers."
Prologis is one of the leading providers of industrial real
estate in Asia, with approximately
21 million square feet (1.95 million square meters) of logistics
and distribution space in Japan as
of September 30, 2012. Major Prologis
customers in Japan include:
Panasonic Logistics, Sagawa Express Group, Nippon Express, Kirin
Logistics, Tomy Company, Yamato Logistics, Costco, Daikin
Industries, and Caterpillar Logistics Services, Inc.
About Prologis
Prologis, Inc. is the leading owner,
operator and developer of industrial real estate, focused on global
and regional markets across the Americas, Europe and Asia. As of September
30, 2012, Prologis owned or had investments in, on a
consolidated basis or through unconsolidated joint ventures,
properties and development projects expected to total approximately
565 million square feet (52.5 million square meters) in 21
countries. The company leases modern distribution facilities to
more than 4,500 customers, including manufacturers, retailers,
transportation companies, third-party logistics providers and other
enterprises.
SOURCE Prologis, Inc.